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Fiscal Year 2016MONROE COUNTY, FLORIDA BOARD OF COUNTY COMMISSIONERS FINANCIAL STATEMENTS As of and for the Year Ended September 30, 2016 And Report of Independent Auditor st Cherry rt " MONROE COUNTY, FLORIDA BOARD OF COUNTY COMMISSIONERS Financial Statements For The Fiscal Year Ended September 30, 2016 TABLE OF CONTENTS Table of Contents Basic Financial Statements Report of Independent Auditor Fund Financial Statements: Balance Sheet - Governmental Funds Statement of Revenues, Expenditures, and Changes in Fund Balances - Governmental Funds Statement of Revenues, Expenditures, and Changes in Fund Balances - Budget and Actual Major Governmental Funds: General Fund Fine and Forfeiture Fund Governmental Grants Fund Statement of Net Position - Proprietary Funds Statement of Revenues, Expenses and Changes in Net Position - Proprietary Funds Statement of Cash Flows - Proprietary Funds Notes to Financial Statements Required Supplementary Information: Florida Retirement System Schedule of the Board's Proportionate Share of Net Pension Liability - Florida Retirement System Schedule of the Board's Contributions - Florida Retirement System Schedule of the Board's Proportionate Share of Net Pension Liability - Health Insurance Subsidy Program Schedule of the Board's Contributions Health Insurance Subsidy Program Pension Plan for Volunteer Firefighters and Emergency Medical Services Schedule of Changes in the Board's Net Pension Liability and Related Ratios Schedule of Employer Contributions Combining and Individual Fund Statements and Schedules: Schedules of Revenues, Expenditures, and Changes in Fund Balances - Budget and Actual One Cent Infrastructure Surtax Capital Project Fund Big Coppitt Wastewater Capital Project Fund Cudjoe Regional Wastewater Capital Project Fund All Debt Service Funds PAGE C-5 C-10 C-12 C-15 C-19 C-21 3 E-1 E-2 E-3 E-4 E-5 E-6 F-1 F-2 F-3 F-4 (Continued) A-1 MONROE COUNTY, FLORIDA BOARD OF COUNTY COMMISSIONERS Financial Statements For The Fiscal Year Ended September 30, 2016 TABLE OF CONTENTS (continued) Combining and Individual Fund Statements and Schedules (continued): Combining Balance Sheet - Nonmajor Governmental Funds Combining Statement of Revenues, Expenditures, and Changes in Fund Balances - Nonmajor Governmental Funds Schedules of Revenues, Expenditures, and Changes in Fund Balances - Budget and Actual Special Revenue Funds: Affordable Housing Programs Tourist Development, All Districts, Two Cent Tourist Development, Administration and Promotional, Two Cent Tourist Development, District One Tourist Development, District Two Tourist Development, District Three Tourist Development, District Four Tourist Development, District Five Impact Fees - Roadways Impact Fees - Parks and Recreation Impact Fees - Libraries Impact Fees - Solid Waste Impact Fees - Police Facilities Impact Fees - Fire and EMS Impact Fees - Employee Fair Share Housing Fire and Ambulance, District #1 - Lower and Middle Keys Upper Keys Health Care Special Taxing District Unincorporated Area Service District - Parks and Recreation Unincorporated Area Service District - Planning, Building & Zoning Municipal Policing 911 Enhancement Fees Duck Key Security District Local Housing Assistance Boating Improvement Miscellaneous Special Revenue Environmental Restoration Law Enforcement Trust PAGE G-1 G-11 G-21 G-22 G-23 G-24 G-25 G-26 G-27 G-28 G-29 G-30 G-31 G-32 G-33 G-34 G-35 G-36 G-37 G-38 G-39 G-41 G-42 G-43 G-44 G-45 G-46 G-48 G-49 (Continued) A-2 MONROE COUNTY, FLORIDA BOARD OF COUNTY COMMISSIONERS Financial Statements For The Fiscal Year Ended September 30, 2016 TABLE OF CONTENTS (continued) Combining and Individual Fund Statements and Schedules (continued): PAGE Court Facility Fees G-50 Drug Abuse Trust G-51 Marathon Municipal Service Taxing Unit G-52 Bay Point Municipal Service Taxing Unit G-53 Big Coppitt Municipal Service Taxing Unit G-54 Key Largo Municipal Service Taxing Unit G-55 Stock Island Wastewater G-56 Cudjoe-Sugarloaf Municipal Service Taxing Unit G-57 Conch Key Municipal Service Taxing Unit G-58 Long Key -Layton Municipal Service Taxing Unit G-59 Duck Key Municipal Service Taxing Unit G-60 Building Fund G-61 Road and Bridge Fund G-62 Clerk's Revenue Note Capital Projects Fund G-63 Infrastructure Revenue Bonds Series 2007 Capital Projects Fund G-64 Duck Key Wastewater Project Capital Projects Fund G-65 Infrastructure Revenue Bonds Series 2014 Capital Projects Fund G-66 Long Key Wastewater Project Capital Projects Fund G-67 Land Acquisition Fund Capital Projects Fund G-68 Combining Statement of Net Position - Internal Service Funds H-1 Combining Statement of Revenues, Expenses, and Changes in Net Position - Internal Service Funds H-3 Combining Statement of Cash Flows - Internal Service Funds H-5 COMPONENT UNIT Comprehensive Plan Land Authority - Statement of Net Position 1-1 Comprehensive Plan Land Authority - Statement of Activities 1-2 OTHER REPORTS Report of Independent Auditor on Internal Control over Financial Reporting and on Compliance and other matters Based on an Audit of Financial Statements Performed in Accordance with Government Auditing Standards J-1 Independent Auditor's Management Letter J-4 Report of Independent Accountant on Compliance with Local Government Investment J-7 Policies A-3 .,;:. Cherry Bekae Report of Independent Auditor To the Clerk Ex Officio, Mayor and Board of County Commissioners of Monroe County, Florida: Report on the Financial Statements We have audited the accompanying financial statements of each major fund, the discretely presented component unit, and the aggregate remaining fund information of the Monroe County, Florida Board of County Commissioners (the "Board") as of and for the year ended September 30, 2016, and the related notes to the financial statements, which collectively comprise the Board's basic financial statements as listed in the table of contents. Management's Responsibility for the Financial Statements Management is responsible for the preparation and fair presentation of these financial statements in accordance with accounting principles generally accepted in the United States of America; this includes the design, implementation, and maintenance of internal control relevant to the preparation and fair presentation of financial statements that are free from material misstatement, whether due to fraud or error. Auditor's Responsibility Our responsibility is to express opinions on these financial statements based on our audit. We conducted our audit in accordance with auditing standards generally accepted in the United States of America and the standards applicable to financial audits contained in Government Auditing Standards, issued by the Comptroller General of the United States. Those standards require that we plan and perform the audit to obtain reasonable assurance about whether the financial statements are free of material misstatement. An audit involves performing procedures to obtain audit evidence about the amounts and disclosures in the financial statements. The procedures selected depend on the auditor's judgment, including the assessment of the risks of material misstatement of the financial statements, whether due to fraud or error. In making those risk assessments, the auditor considers internal control relevant to the Board's preparation and fair presentation of the financial statements in order to design audit procedures that are appropriate in the circumstances, but not for the purpose of expressing an opinion on the effectiveness of the Board's internal control. Accordingly, we express no such opinion. An audit also includes evaluating the appropriateness of accounting policies used and the reasonableness of significant accounting estimates made by management, as well as evaluating the overall presentation of the financial statements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our audit opinions. Opinions In our opinion, the financial statements referred to above present fairly, in all material respects, the respective financial position of each major fund, the discretely presented component unit, and the aggregate remaining fund information of the Board as of September 30, 2016, and the respective changes in financial position and, where applicable, cash flows thereof, and the respective budgetary comparison for the General Fund, Fine and Forfeiture Fund and Governmental Grants Fund for the year then ended in conformity with accounting principles generally accepted in the United States of America. B-1 Emphasis of Matter Change in Accounting Principle As discussed in Note 1 to the basic financial statements, the County adopted Governmental Accounting Standards Board ("GASB") Statement No. 73, Accounting and Financial Reporting for Pensions and Related Assets that are not within the Scope of GASB 68, and Amendments to Certain provisions of GASB Statements 67 and 68, beginning October 1, 2015. As a result, net position as of September 30, 2015 has been restated. Our opinion is not modified with respect to this matter. Other Information As described in Note 1, the financial statements referred to are not intended to be a complete presentation of the financial position, changes in financial position and cash flows, where applicable, of the Board. Additionally, the financial statements present only the Board and are not intended to present the financial position and the changes in financial position and cash flows, where applicable, of Monroe County, Florida, taken as a whole. Other Matters Required Supplementary Information Accounting principles generally accepted in the United States of America require that the Required Supplementary Information as listed in the table of contents be presented to supplement the financial statements. Such information, although not a part of the financial statements, is required by the Governmental Accounting Standards Board, who considers it to be an essential part of financial reporting for placing the financial statements in an appropriate operational, economic, or historical context. We have applied certain limited procedures to the required supplementary information in accordance with auditing standards generally accepted in the United States of America, which consisted of inquiries of management about the methods of preparing the information and comparing the information for consistency with management's responses to our inquiries, the financial statements, and other knowledge we obtained during our audit of the financial statements. We do not express an opinion or provide any assurance on the information because the limited procedures do not provide us with sufficient evidence to express an opinion or provide any assurance. Supplementary and Other Information Our audit was conducted for the purpose of forming opinions on the financial statements of the Board taken as a whole. The combining and individual fund statements and schedules, as listed in the table of contents, are presented for purposes of additional analysis and are not a required part of the financial statements. The accompanying information is the responsibility of management and was derived from and relate directly to the underlying accounting and other records used to prepare the financial statements. Such information has been subjected to the auditing procedures applied in the audit of the financial statements and certain additional procedures, including comparing and reconciling such information directly to the underlying accounting and other records used to prepare the financial statements or to the financial statements themselves, and other additional procedures in accordance with accounting standards generally accepted in the United States of America. In our opinion, this information is fairly stated, in all material respects, in relation to the financial statements as a whole. Other Reporting Required by Government Auditing Standards In accordance with Government Auditing Standards, we have also issued our report dated March 31, 2017 on our consideration of the Board's internal control over financial reporting and our tests of its compliance with certain provisions of laws, regulations, contracts, and grant agreements and other matters. The purpose of that report is to describe the scope of our testing of internal control over financial reporting and compliance and the results of that testing, and not to provide an opinion on the internal control over financial reporting or on compliance. That report is an integral part of an audit performed in accordance with Government Auditing Standards in considering the Board's internal control over financial reporting and compliance. Orlando, Florida March 31, 2017 B-2 MONROE COUNTY, FLORIDA-BOARD OF COUNTY COMMISSIONERS BALANCE SHEET GOVERNMENTALFUNDS SEPTEMBER 30, 2016 Assets Cash and Cash Equivalents Investments Accounts Receivable, Net Assessments Receivable Due from Other Funds Due from Other Governmental Units Due from Constitutional Officers Mortgages/Notes Receivable Allowance for Mortgages/Notes Receivable Advances to Other Governments Interest Receivable Inventory Total Assets Liabilities, Deferred Inflows of Resources and Fund Balances Liabilities: Accounts Payable Retainage Payable Accrued Wages and Benefits Payable Due to Other Funds Due to Other Governmental Units Due to Constitutional Officers Other Current Liabilities Deposits in Escrow Total Liabilities Deferred Inflows of Resources: Advances from Other Governments Unavailable Revenues Total Deferred Inflows of Resources Fund Balances: Nonspendable Restricted Committed Assigned Unassigned Total Fund Balances Total Liabilities, Deferred Inflows of Resources and Fund Balances Fine & Governmental General Forfeiture Grants $ 6,795,908 $ 19,392,434 $ 449,092 17,727,825 4,359,127 1,684,478 20,160 1,366,050 261 8,807,358 - 55,733 535,387 278,230 2,540,750 6,335,805 1,532,925 - - - 496,531 - - (496,531) 60,709 5,891 4,737 3,728 - - $ 40,286,880 $ 26,934,657 $ 4,735,051 $ 1,322,933 $ 46,676 $ 875,688 - - 129,951 169,353 - - 55,733 9,308,767 - 449,538 33,031 80,976 1,466 16,062 - 9,202 - - 5,410 - - 2,013,635 9,404,536 1,086,615 - - 83,541 - 770,063 1,945,135 - 770,063 2,028,676 3,728 - - - 16,760,058 1,619,760 10, 000, 000 - - 12, 779, 394 - - 15,490,123 - - 38,273,245 16,760,058 1,619, 760 $ 40,286,880 $ 26,934,657 $ 4,735,051 The notes to the financial statements are an integral part of these statements. C-1 One Cent Big Coppitt Cudjoe Regional All Nonmajor Total Infrastructure Wastewater Wastewater Debt Service Governmental Governmental Surtax Project Project Funds Funds Funds $ 2,995,777 $ 294,925 $ 4,982,112 $ 1,354,731 $ 29, 749, 627 $ 66, 014,606 16,801,203 2,180,303 6,454,537 1,271,898 74,394,654 124,874,025 80 - - - 9,277 1,395,828 - 2,711,284 29,883,019 - 848,599 33,442,902 3,668,413 12,649 6,412,734 - 45,812 19,002,699 1,590,224 - - - 1,771,931 6,716,522 - 965 3,075 - 5,533,457 13,406,227 - - - - 8,476,848 8,973,379 - - - - (8,476,848) (8,973,379) - - 4,785,277 - - 4,785,277 37,879 5,433 10,687 3,850 154,562 283,748 - - - - - 3,728 $ 25,093,576 $ 5,205,559 $ 52,531,441 $ 2,630,479 $ 112,507,919 $ 269,925,562 $ 1,088,680 $ 4,587 $ 5,027 $ 65,000 $ 2,561,106 $ 5,969,697 395,055 - - - 162,611 687,617 - - - - - 169,353 - 2,256,718 15,295 - 6,702,791 18,339,304 65 - 609 - 290,204 854,423 - - - - 72,504 90,032 - - - - 1,329 10,531 - - - - 156,885 162,295 1,483,800 2,261,305 20,931 65,000 9,947,430 26,283,252 - - - - - 83,541 - 2,598,799 29,164,669 - 837,248 35,315,914 - 2,598,799 29,164,669 - 837,248 35,399,455 - - - - - 3,728 23,609,776 345,455 23,345,841 2,565,479 94,223,445 162,469,814 - - - - 2,223,059 12,223,059 - - - - 5,276,737 18,056,131 - - - - - 15,490,123 23,609,776 345,455 23,345,841 2,565,479 101,723,241 208,242,855 $ 25,093,576 $ 5,205,559 $ 52,531,441 $ 2,630,479 $ 112,507,919 $ 269,925,562 C-2 MONROE COUNTY, FLORIDA-BOARD OF COUNTY COMMISSIONERS STATEMENT OF REVENUES, EXPENDITURES, AND CHANGES IN FUND BALANCES GOVERNMENTAL FUNDS FOR THE YEAR ENDED SEPTEMBER 30, 2016 Fine & Governmental General Forfeiture Grants Revenues: Taxes $ 21,002,833 $ 43,898,743 $ - Licenses and Permits - - - Intergovernmental 12,059,728 84,096 6,943,750 Charges for Services 592,832 6,167,991 128,750 Fines and Forfeitures 8,387 78,576 - Investment Income 64,294 371,636 7,738 Miscellaneous 771,075 1,250 22,521 Total Revenues 34,499,149 50,602,292 7,102,759 Expenditures: Current: General Government 27,142,579 550,000 - Public Safety 1,406,357 50,025,538 462,839 Physical Environment 610,849 - 853,354 Transportation 132,479 - 3,683,132 Economic Environment 628,101 - 61,721 Human Services 7,174,162 - 1,708,504 Culture and Recreation 3,099,903 - 157,919 Court -Related 3,298,645 1,864,374 - Capital Projects - - - Debt Service: Principal -Refunded Debt - - - Principal - - - Interest - - - Total Expenditures 43,493,075 52,439,912 6,927,469 Excess/Deficiency of Revenues Over (Under) Expenditures (8,993,926) (1,837,620) 175,290 Other Financing Sources (Uses): Transfers from Other Funds 5,494,079 2,755,000 958,997 Transfers to Other Funds (271,425) (16,667) (50,000) Refunding Bonds Issued - - - Issuance of Debt - - - Transfers from Constitutional Officers 5,174,439 1,516,758 - Total Other Financing Sources (Uses) 10,397,093 4,255,091 908,997 Net Change in Fund Balances 1,403,167 2,417,471 1,084,287 Fund Balances -October 1 36,004,187 14,342,587 535,473 Restatement 865,891 - - Fund Balances -October 1, restated 36,870,078 14,342,587 535,473 Fund Balances-September30 $ 38,273,245 $ 16,760,058 $ 1,619,760 The notes to the financial statements are an integral part of these statements. C-3 One Cent Big Coppitt Cudjoe Regional All Nonmajor Total Infrastructure Wastewater Wastewater Debt Service Governmental Governmental Surtax Project Project Funds Funds Funds $ 20,817,676 $ - $ - $ - $ 55,441,394 $ 141,160,646 - 325,648 13,207,840 - 5,401,924 18,935,412 - - 1,558,862 - 7,508,410 28,154, 846 - - - - 9,077,177 15,966,750 - - - - 1,855,074 1,942,037 99,757 90,118 832,799 15,780 427,193 1,909,315 3,912 34,263 128,766 - 607,247 1,569,034 20, 921, 345 450,029 15, 728, 267 15,780 80, 318, 419 209, 638, 040 3,151, 363 30, 843, 942 25,192,347 77,087,081 - - - - 2,027,565 3,491,768 - - - - 5,267,722 9,083,333 - - - - 34,698,863 35,388,685 - - - - 99,948 8,982,614 - - - - 1,697,955 4,955,777 - - - - 402,966 5,565,985 12,401,693 32,665 41,677,918 - 2,293,374 56,405,650 - - - 16,000,000 - 16,000,000 - - - 5,154,694 - 5,154,694 - - - 1,623,566 - 1,623,566 12,401,693 32,665 41,677,918 22,778,260 74,832,103 254,583,095 8,519,652 417,364 (25,949,651) (22,762,480) 5,486,316 (44,945,055) 4,550,000 - 6 6,577,224 8,246,818 28,582,124 (16,428,714) (2,681,938) - - (7,394,734) (26,843,478) - - - 16,065,000 - 16,065,000 - - 31,147,188 - - 31,147,188 - 964 3,075 - 1,225,480 7,920,716 (11,878,714) (2,680,974) 31,150,269 22,642,224 2,077,564 56,871,550 (3,359,062) (2,263,610) 5,200,618 (120,256) 7,563,880 11,926,495 26,968,838 2,609,065 18,145,223 2,685,735 94,159,361 195,450,469 - - - - - 865,891 26,968,838 2,609,065 18,145,223 2,685,735 94,159,361 196,316,360 $ 23,609,776 $ 345,455 $ 23,345,841 $ 2,565,479 $ 101,723,241 $ 208,242,855 C-4 MONROE COUNTY, FLORIDA-BOARD OF COUNTY COMMISSIONERS STATEMENT OF REVENUES, EXPENDITURES, AND CHANGES IN FUND BALANCES - BUDGET AND ACTUAL GENERALFUND FOR THE YEAR ENDED SEPTEMBER 30, 2016 REVENUES: Taxes Intergovernmental Charges for Services Fines and Forfeitures Investment Income Miscellaneous Total Revenues EXPENDITURES: Current: General Government: Board of County Commissioners Admin Clerk to BOCC-Financial Package Gov't Enterprise Management System Clerk Comm & Fees-TDC Clerk Comm & Fees-Noncourt Insurances -Supervisor of Elections Promotional Advertising Value Adjustment Board Tax Increment Payment Employee Suggestion Plan Lobbyist County Administrator Technical Services Technology Grants Administration Office of Management & Budget Purchasing Personnel Public Works Management Public Works Facilities Maintenance ADA Compliance County Attorney Tax Collector Property Appraiser Supervisor of Elections Quasi External Services Hurricane Total General Government Variance with Final Budget Original Final Positive Budget Budget Actual (Negative) $ 21,602,431 $ 21,602,431 $ 21,002,833 $ (599,598) 10,176,660 10,267,671 12,059,728 1,792,057 751,300 821,300 592,832 (228,468) 13,000 13,000 8,387 (4,613) 87,000 87,000 64,294 (22,706) 522,819 583,617 771,075 187,458 33,153,210 33,375,019 34,499,149 1,124,130 1,747,944 1,688,341 1,608,822 79,519 5,000 5,000 - 5,000 100,000 50,000 25,439 24,561 161,931 161,931 161,931 - 2,647,860 2,647,860 2,647,860 - 142,157 135,833 103,995 31,838 5,000 5,000 100 4,900 35,000 35,000 29,145 5,855 300,000 265,147 265,147 - 10,000 10,000 - 10,000 100,000 155,132 145,548 9,584 816,225 950,044 942,481 7,563 1,784,673 1,841,112 1,754,738 86,374 338,000 338,000 284,763 53,237 189,474 174,474 140,542 33,932 477,982 451,142 385,713 65,429 202,264 111,264 90,723 20,541 463,360 499,118 430,976 68,142 66,425 65,723 9,759 55,964 6,710,830 6,434,386 5,866,927 567,459 10,000 10,000 (20) 10,020 1,712,400 1,654,906 1,407,381 247,525 4,387,461 5,191,452 4,850,422 341,030 4,221,584 4,194,841 3,983,117 211,724 1,778,205 1,778,205 1,778,205 - 130,000 230,000 228,168 1,832 100,000 100,000 697 99,303 28,643,775 29,183,911 27,142,579 2,041,332 The notes to the financial statements are an integral part of these statements. (Continued) C-5 MONROE COUNTY, FLORIDA-BOARD OF COUNTY COMMISSIONERS STATEMENT OF REVENUES, EXPENDITURES, AND CHANGES IN FUND BALANCES - BUDGET AND ACTUAL (CONTINUED) GENERALFUND FOR THE YEAR ENDED SEPTEMBER 30, 2016 Public Safety: Emergency Management Marathon Emergency Operations Center Medical Examiner Fire Academy Fire & EMS LOSAP Total Public Safety Physical Environment: Extension Service Sustainability Total Physical Environment Transportation: County Engineer Total Transportation Economic Environment: Literacy Volunteers of America Veterans Affairs Veterans Affairs Transportation Total Economic Environment Human Services: Middle Keys Guidance Clinic Older Americans Volunteer Program Domestic Abuse Shelter Hospice of the Florida Keys Florida Keys Outreach Coalition Samuel's House Womankind Grace Jones AIDS Help Good Health Clinic Monroe Co. Assoc. for ReMARCable Citizens Florida Keys Children's Shelter Wesley House Florida Keys Area Rural Health Network Variance with Final Budget Original Final Positive Budget Budget Actual (Negative) 305,937 302,989 291,279 11,710 79,155 78,685 25,417 53,268 650,510 646,605 635,282 11,323 619,650 613,928 423,329 190,599 38,000 38,000 31,050 6,950 1,693,252 1,680,207 1,406,357 273,850 212,351 210,583 194,380 16,203 539,028 539,028 416,469 122,559 751,379 749,611 610,849 138,762 294,250 294,250 132,479 161,771 294,250 294,250 132,479 161,771 30,000 30,000 30,000 - 484,407 482,025 465,342 16,683 134,819 134,819 132,759 2,060 649,226 646,844 628,101 18,743 41,424 41,424 41,424 - 500 500 - 500 30,000 30,000 29,544 456 141,000 141,000 141,000 - 70,000 70,000 70,000 - 100,000 100,000 100,000 - 130,000 130,000 130,000 - 45,000 45,000 45,000 - 45,000 45,000 45,000 - 83,500 83,500 83,500 - 169,500 169,500 169,500 - 189,000 189,000 189,000 - 170,958 170,958 170,958 - 50,000 50,000 50,000 - 136,902 136,902 136,902 - (Continued) The notes to the financial statements are an integral part of these statements. C-6 MONROE COUNTY, FLORIDA-BOARD OF COUNTY COMMISSIONERS STATEMENT OF REVENUES, EXPENDITURES, AND CHANGES IN FUND BALANCES - BUDGET AND ACTUAL (CONTINUED) GENERALFUND FOR THE YEAR ENDED SEPTEMBER 30, 2016 SHAL The Heron Kids Come First - FL Keys FL Keys Healthy Start Coalition Keys Area Interdenominational Resources Star of the Sea Foundation Independence Cay Anchors Aweigh Baker Act LKMC FS 394.463 GCC Baker Act Transp GCC SamH FS 394.76 GCC Jail Inhouse Program Historic FL Keys Foundation Animal Shelters Welfare Administration Welfare Services Health Care Respite Act Bayshore Manor Social Service Transportation Burton Memorial UMC Keys to Be Change Voices for the FL Keys CHI Be the Change of the FL Keys Total Human Services Culture and Recreation: Fine Arts Council Lower Keys AARP Middle Keys AARP Big Pine Key AARP Upper Keys AARP Boys and Girls Club Heart of the Keys Recreation Higgs Beach Maintenance Library Admin Support Library Key West Library Key West Donations Library Marathon Library Marathon Donations Library Islamorada Variance with Final Budget Original Final Positive Budget Budget Actual (Negative) 50,000 50,000 42,850 7,150 47,000 47,000 47,000 - 33,000 33,000 32,714 286 33,000 33,000 33,000 - 30,000 30,000 30,000 - 80,000 80,000 80,000 - 30,000 30,000 30,000 - 20,000 20,000 20,000 - 83,334 83,334 62,500 20,834 145,000 145,000 143,677 1,323 690,000 690,000 665,084 24,916 116,617 133,284 128,119 5,165 32,450 32,450 32,450 - 1,142,946 1,142,946 1,071,078 71,868 594,021 591,716 563,892 27,824 1,002,500 1,002,500 958,936 43,564 46,019 46,019 4,009 42,010 833,560 822,319 768,479 53,840 941,262 924,705 984,406 (59,701) 10,000 10,000 10,000 - - 60,000 60,000 - 5,000 5,000 4,140 860 60,000 - - - 7,428,493 7,415,057 7,174,162 240,895 69,300 4,500 4,500 4,500 4,500 99,000 40,000 88,046 737,759 775,767 2,500 352,093 1,000 307,932 69,300 4,500 4,500 4,500 4,500 99,000 40,000 87,335 712,851 759,401 144,913 343,247 13,974 300,766 69,300 2,156 4,191 2,867 1,047 99,000 40,000 87,173 640,416 723,142 54,824 314,380 6,822 275,752 2,344 309 1,633 3,453 162 72,435 36,259 90,089 28,867 7,152 25,014 The notes to the financial statements are an integral part of these statements. (Continued) C-7 MONROE COUNTY, FLORIDA-BOARD OF COUNTY COMMISSIONERS STATEMENT OF REVENUES, EXPENDITURES, AND CHANGES IN FUND BALANCES - BUDGET AND ACTUAL (CONTINUED) GENERALFUND FOR THE YEAR ENDED SEPTEMBER 30, 2016 Library Islamorada Donations Library Key Largo Library Key Largo Donations Library Big Pine Key Library Big Pine Key Donations Total Culture and Recreation Court Related: Law Library Guardian Ad Litem Clerk of the Court -General Mgt Clerk of the Court -Jury Management Clerk Records Management Clerk of the Circuit Court -Criminal Clerk of the Circuit Court -Civil Clerk of the Circuit Court -Family Clerk of the Circuit Court -Juvenile Clerk of the Circuit Court -Probate Clerk County Court -Criminal Clerk County Court -Civil Clerk County Court -Traffic State Attorney Public Defender Court Administration Court Admin-Judicial Support Court Case Management Court Admin-Circuit Ct Reporter Svcs Court Admin-Circuit Drug Court Court Admin-Pretrial Release Ct. Admin-Pretrial Svcs Drug Diversion Court Admin-Information Systems Total Court Related Total Expenditures Variance with Final Budget Original Final Positive Budget Budget Actual (Negative) 500 1,589 125 1,464 441,730 431,185 418,740 12,445 500 1,738 - 1,738 372,146 367,606 359,082 8,524 1,000 11,141 886 10,255 3,307,273 3,402,046 3,099,903 302,143 68,998 68,998 67,545 1,453 193,492 193,492 139,482 54,010 13,671 13,671 13,671 - 15,028 15,028 15,028 - 41,905 41,905 41,905 - 133,787 133,787 133,787 - 97,668 97,668 97,668 - 26,020 26,020 26,020 - 16,311 16,311 16,311 - 18,161 18,161 18,161 - 111,812 111,812 111,812 - 44,916 44,916 44,916 - 130,862 130,862 130,862 - 327,038 325,537 261,697 63,840 692,049 684,134 623,503 60,631 2,532 2,516 1,743 773 132,856 137,124 133,072 4,052 210,160 173,576 161,386 12,190 1,675 1,675 1,638 37 399,748 409,955 389,382 20,573 538,277 551,133 519,300 31,833 161,746 163,595 140,509 23,086 215,318 215,007 209,247 5,760 3,594,030 3,576,883 3,298,645 278,238 46,361,678 46,948,809 43,493,075 3,455,734 Excess/Deficiency of Revenues Over (Under) Expenditures (13,208,468) (13,573,790) (8,993,926) 4,579,864 The notes to the financial statements are an integral part of these statements. (Continued) C-8 MONROE COUNTY, FLORIDA-BOARD OF COUNTY COMMISSIONERS STATEMENT OF REVENUES, EXPENDITURES, AND CHANGES IN FUND BALANCES - BUDGET AND ACTUAL (CONTINUED) GENERALFUND FOR THE YEAR ENDED SEPTEMBER 30, 2016 Other Financing Sources (Uses): Reserve for Contingencies Reserve for Cash Balance Transfers from Other Funds Transfers to Other Funds Transfers from Constitutional Officers Total Other Financing Sources (Uses) Net Change in Fund Balances Fund Balances -October 1 Restatement Fund Balances -October 1, restated Fund Balances, September 30 Original Final Budget Budget Actual Variance with Final Budget Positive (Negative) (429,887) (31,232) - 31,232 (7,783,353) (7,783,353) - 7,783,353 5,477,412 5,494,079 5,494,079 - (267,500) (317,500) (271,425) 46,075 4,100,000 4,100,000 5,174,439 1,074,439 1,096,672 1,461,994 10,397,093 8,935,099 (12,111,796) (12,111,796) 1,403,167 13,514,963 12,111,796 12,111,796 36,004,187 23,892,391 - - 865,891 865,891 12,111,796 12,111,796 36,870,078 24,758,282 $ 38,273,245 $ 38,273,245 The notes to the financial statements are an integral part of these statements. C-9 MONROE COUNTY, FLORIDA-BOARD OF COUNTY COMMISSIONERS STATEMENT OF REVENUES, EXPENDITURES, AND CHANGES IN FUND BALANCES - BUDGET AND ACTUAL FINE AND FORFEITURE SPECIAL REVENUE FUND FOR THE YEAR ENDED SEPTEMBER 30, 2016 REVENUES: Taxes Intergovernmental Charges for Services Fines and Forfeitures Investment Income Miscellaneous Total Revenues EXPENDITURES: Current: General Government: Tax Increment Payment Total General Government Public Safety: Sheriff Law Enforcement Sheriff Corrections Bond Refunds LEEA Funds Correction Facilities Medical Air Transport Interagency Communications Juvenile Detention Cost Share Total Public Safety Court Related: Sheriff Extradition Sheriff Court Security Total Court Related Total Expenditures Original Final Budget Budget Variance with Final Budget Positive Actual (Negative) $ 46,293,808 $ 46,293,808 $ 43,898,743 $ (2,395,065) - - 84,096 84,096 4,246,500 4,246,500 6,167,991 1,921,491 81,500 81,500 78,576 (2,924) 85,000 85,000 371,636 286,636 2,500 2,500 1,250 (1,250) 50,709,308 50,709,308 50,602,292 (107,016) 550,000 550,000 550,000 - 550,000 550,000 550,000 - 21,135,515 23,745,515 23,342,409 403,106 21,724,224 21,869,224 21,372,784 496,440 25,000 25,000 - 25,000 75,000 75,000 75,000 - 1,928,757 1,928,757 1,582,797 345,960 3,148,956 3,148,956 2,985,978 162,978 472,013 472,013 445,212 26,801 373,000 373,000 221,358 151,642 48,882,465 51,637,465 50,025,538 1,611,927 50,000 50,000 40,422 9,578 1,871,959 1,871,959 1,823,952 48,007 1,921,959 1,921,959 1,864,374 57,585 51,354,424 54,109,424 52,439,912 1,669,512 Excess/Deficiency of Revenues Over (Under) Expenditures (645,116) (3,400,116) (1,837,620) 1,562,496 (Continued) The notes to the financial statements are an integral part of these statements. C-10 MONROE COUNTY, FLORIDA-BOARD OF COUNTY COMMISSIONERS STATEMENT OF REVENUES, EXPENDITURES, AND CHANGES IN FUND BALANCES - BUDGET AND ACTUAL (CONTINUED) FINE AND FORFEITURE SPECIAL REVENUE FUND FOR THE YEAR ENDED SEPTEMBER 30, 2016 Other Financing Sources (Uses): Reserve for Contingencies Reserve for Cash Balance Transfers to Other Funds Transfers from Other Funds Transfers from Constitutional Officers Total Other Financing Sources (Uses) Net Change in Fund Balances Fund Balances, October 1 Original Final Budget Budget Actual Variance with Final Budget Positive (Negative) (373,870) (373,870) - 373,870 (5,079,462) (5,079,462) - 5,079,462 (16,667) (16,667) (16,667) - - 2,755,000 2,755,000 - 1,300,000 1,300,000 1,516,758 216,758 (4,169,999) (1,414,999) 4,255,091 5,670,090 (4,815,115) (4,815,115) 2,417,471 7,232,586 4,815,115 4,815,115 14,342,587 9,527,472 Fund Balances, September 30 $ - $ - $ 16,760,058 $ 16,760,058 The notes to the financial statements are an integral part of these statements. C-11 MONROE COUNTY, FLORIDA-BOARD OF COUNTY COMMISSIONERS STATEMENT OF REVENUES, EXPENDITURES AND CHANGES IN FUND BALANCES - BUDGET AND ACTUAL GOVERNMENTAL GRANTS SPECIAL REVENUE FUND FOR THE YEAR ENDED SEPTEMBER 30, 2016 Revenues: Intergovernmental Charges for Services Investment Income Miscellaneous Total Revenues Expenditures: Current: Public Safety: Emergency Management Base Grant Federal Emergency Base Grant 03 Federal Emergency Base Grant 04 Radiological Emerg. Preparedness EMS Award Grant DOJ DC Medical Director Initiative Go Solar Program ILA SHSGP 14DS-P5-11-54-01 UASI 14 Grant UASI 15 Grant Total Public Safety Physical Environment: MC Canal Mstr Pln Edu Pgm Exotic Plant Removal Crew 14 Exotic Plant Removal Crew 15 4-H Donations DEP Clean Vessel Act DEP Mobile Vessel Pumpout FWC MC Removal Vessels FWC MC Waterway Maker FL Keys Youth Council DEP MV205 Mobile Vessels DEP MV204 Mobile Vessels Total Physical Environment Transportation: Variance with Final Budget Original Final Positive Budget Budget Actual (Negative) $ - $ 16,961,094 $ 6,943,750 $ (10,017,344) - 141,896 128,750 (13,146) - - 7,738 7,738 - - 22,521 22,521 - 17,102,990 7,102,759 (10,000,231) - 211,612 103,692 107,920 - 32,322 22,212 10,110 - 66,592 38,087 28,505 - 141,896 138,366 3,530 - 43,000 8,815 34,185 - 12,795 12,795 - - 150,000 - 150,000 - 21,250 18,750 2,500 - 120,165 120,122 43 - 96,925 - 96,925 - 896,557 462,839 433,718 - 19,543 8,367 11,176 - 70,000 69,862 138 - 85,000 85,000 - - 13,645 13,630 15 - 333,333 225,900 107,433 - 100,000 100,000 - - 99,924 95,265 4,659 - 93,705 - 93,705 - 73,910 72,880 1,030 - 500,000 125,000 375,000 - 229,800 57,450 172,350 - 1,618,860 853,354 765,506 Old SR940 Leg A Bridge Repair - 46,034 - 46,034 No Name Key Bridge #904320 - 3,520,731 1,135,526 2,385,205 Card Sound Bridge Repair - 51301,726 1,459,241 3,842,485 (Continued) The notes to the financial statements are an integral part of these statements. C-12 MONROE COUNTY, FLORIDA-BOARD OF COUNTY COMMISSIONERS STATEMENT OF REVENUES, EXPENDITURES, AND CHANGES IN FUND BALANCES - BUDGET AND ACTUAL (CONTINUED) GOVERNMENTAL GRANTS SPECIAL REVENUE FUND FOR THE YEAR ENDED SEPTEMBER 30, 2016 Transp Planning Prog 2012 Pigeon Key Ferry Service Scenic Highway Overlooks Ped Brg Ovr M Adams Wtrwy Garrison Bight Bridge Pigeon Key Ferry Ramp Repair Total Transportation Economic Environment: Disaster Recovery CDBG Small Cities CDBG 2010 Total Economic Environment Human Services: Nutritional Services In Progress GCC Male Jail inhouse Program Title IIIC1 Congregate Meals - 2016 Title IIIC2 Home Delivered Meals-2016 Title III-E Caregiver Support Svc-2016 Low Income Home Energy Program 2015 Low Income Home Energy Program 2016 Alzheimer's Disease Initiative 14/15 Alzheimer's Disease Initiative 15/16 Community Care Disabled Adults Community Care for the Elderly 14/15 Community Care for the Elderly 15/16 Home Care for the Elderly 14/15 Home Care for the Elderly 15/16 SHIP to WAP WAP Grant Title IIIB Supportive Services - 2015 Title IIIC1 Congregate Meals - 2015 Title IIIB Supportive Services - 2016 Title IIIC2 Home Delivered Meals-2015 Title III-E Caregiver Support Svc-2015 Sh Crt Mand Crm/ Sub Abuse GCC Heron Reduce Crime Weather Asst Prgm 03 Total Human Services Original Final Budget Budget Actual Variance with Final Budget Positive (Negative) - 566,532 101,905 464,627 - 404,213 231,250 172,963 - 1,126,553 29,732 1,096,821 - 475,000 475,000 - - 260,000 170,507 89,493 - 120,459 79,971 40,488 - 11,821,248 3,683,132 8,138,116 175,822 - 175,822 414,757 61,721 353,036 590,579 61,721 528,858 - 30,273 1,736 28,537 - 37,331 33,940 3,391 - 165,172 129,131 36,041 - 247,434 217,100 30,334 - 142,377 63,776 78,601 - 86,686 76,856 9,830 - 199,740 127,993 71,747 - 120,301 115,630 4,671 - 182,942 36,138 146,804 - 190,282 94,697 95,585 - 353,276 333,010 20,266 - 459,667 154,722 304,945 - 9,799 9,689 110 - 11,779 4,368 7,411 - 80,937 22,756 58,181 - 70,207 - 70,207 - 9,374 2,338 7,036 - 37,362 33,746 3,616 - 125,034 120,401 4,633 - 67,988 65,566 2,422 - 19,205 15,494 3,711 - 4,125 4,125 - - 42,515 42,515 - - 2,777 2,777 - - 2,696,583 1,708,504 988,079 (Continued) The notes to the financial statements are an integral part of these statements. C-13 MONROE COUNTY, FLORIDA-BOARD OF COUNTY COMMISSIONERS STATEMENT OF REVENUES, EXPENDITURES, AND CHANGES IN FUND BALANCES - BUDGET AND ACTUAL (CONTINUED) GOVERNMENTAL GRANTS SPECIAL REVENUE FUND FOR THE YEAR ENDED SEPTEMBER 30, 2016 Culture and Recreation: State Aid to Libraries Lower Keys Scenic VW Area HFKF MC Cult Res Rowell's Marina Sc Overlook Total Culture and Recreation Total Expenditures Excess/Deficiency of Revenues Over (Under) Expenditures Other Financing Sources (Uses): Transfers from Other Funds Transfers to Other Funds Total Other Financing Sources (Uses) Net Change in Fund Balances Fund Balances, October 1 Fund Balances, September 30 Variance with Final Budget Original Final Positive Budget Budget Actual (Negative) - 120,713 78,061 42,652 - 82,850 40,758 42,092 - 39,100 39,100 - - 130,000 - 130,000 - 372,663 157,919 214,744 - 17,996,490 6,927,469 11,069,021 - (893,500) 175,290 1,068,790 2,962,491 958,997 (2,003,494) (2,068,991) (50,000) 2,018,991 893,500 908,997 15,497 1,084,287 1,084,287 535,473 535,473 $ 1,619,760 $ 1,619,760 The notes to the financial statements are an integral part of these statements. C-14 MONROE COUNTY, FLORIDA-BOARD OF COUNTY COMMISSIONERS STATEMENT OF NET POSITION PROPRIETARY FUNDS SEPTEMBER 30, 2016 ASSETS Current Assets: Cash and Cash Equivalents Investments Accounts Receivable, Net Due from Other Funds Due from Other Governmental Units Due from Constitutional Officers Interest Receivable Total Current Assets Noncurrent Assets: Restricted Cash and Cash Equivalents Restricted Accounts Receivable Land and Other Nondepreciable Assets Capital Assets, Net of Accum. Depreciation Total Noncurrent Assets Total Assets DEFERRED OUTFLOWS OF RESOURCES Related to Pensions LIABILITIES Current Liabilities: Accounts Payable Retainage Payable Accrued Wages and Benefits Payable Claims and Judgments Payable Due to Other Funds Due to Other Governmental Units Due to Constitutional Officers Accrued Comp. Absences Payable Unearned Revenues Other Current Liabilities Deposits in Escrow Total Current Liabilities Business -type Activities Enterprise Funds Major Funds Municipal Card Key Service District Sound West Waste Bridge Airport $ 2,367,998 $ 737,601 $ 2,948,120 11,226,375 5,450,813 662,874 22,304 40 547,848 - - 175,611 105,983 - 127,519 4,112 - 39,409 25,472 12,772 1,858 13,752,244 6,201,226 4,503,239 1,766,307 - 3,720,200 50,000 1,328,425 581,808 7,156,415 58,858,049 6,068,315 7,206,415 60,186,474 19,820,559 13,407,641 64,689,713 281,085 173,991 1,026,428 1,247,957 1,590 275,462 - - 14,493 - 246,212 - 2,358 1,041 12,061 - 178 - 21,589 14,633 36,355 - - 13,626 - - 498 52,165 - 8,000 1,324,069 263,654 360,495 The notes to the financial statements are an integral part of these statements. C-15 Governmental Major Funds Activities PFC Internal Operations & Marathon Service Restrictions Airport Total Funds $ 329,782 $ 262,603 $ 6,646,104 $ 4,640,107 - 1,053,759 18,393,821 17,326,049 - 26,752 596,944 15,162 - 17,390 193,001 - 33,321 202,485 469,308 94,735 - - 43,521 279,530 - 2,964 43,066 49,768 363,103 1,565,953 26,385,765 22,405,351 5,861,477 157,591 7,785,375 - 197,041 - 197,041 - - 1,524,285 6,622,910 54,000 - 10,204,108 76,800,380 838,085 6,058,518 11,885,984 91,405,706 892,085 6,421,621 13,451,937 117,791,471 23,297,436 - 90,817 1,572,321 416,894 73,530 352,488 1,951,027 1,692,712 - 26,184 40,677 - - - - 8,575 1 700 361 193,001 - 439,213 417,183 - 3,232 18,692 286 - - 178 6,399 - 5,365 77,942 26,940 - 3,459 17,085 - - - 498 - - 6,306 66,471 - 266,531 397,034 2,611,783 3,852,456 (Continued) C-16 MONROE COUNTY, FLORIDA-BOARD OF COUNTY COMMISSIONERS STATEMENT OF NET POSITION (CONTINUED) PROPRIETARY FUNDS SEPTEMBER 30, 2016 Noncurrent Liabilities: Payable from Restricted Assets -Landfill Closure/Post Closure Costs Accrued Comp. Absences Payable Claims & Judgments Payable OPEB Liability Net Pension Liability Total Noncurrent Liabilities Total Liabilities DEFERRED INFLOWS OF RESOURCES Related to Pensions NET POSITION Investment in Capital Assets Restricted for: Passenger Facility Charges Landfill Customs Service Operations Unrestricted Total Net Position Business -type Activities Enterprise Funds Major Funds Municipal Card Key Service District Sound West Waste Bridge Airport 175,531 - - 86,356 58,530 145,419 129,632 - - 565,934 325,936 591,086 809,009 506,099 2,633,908 1,766,462 890,565 3,370,413 3,090,531 1,154,219 3,730,908 15,798 9,702 62,754 4,302,008 7,206,415 60,186,474 1,766,307 10,927,000 5,211,296 1,736,005 $ 16,995,315 $ 12,417,711 $ 61,922,479 The notes to the financial statements are an integral part of these statements. C-17 Major Funds PFC Operations & Marathon Restrictions Airport Total Governmental Activities Internal Service Funds - - 175,531 - - 21,457 311,762 107,769 - - 129,632 - - 379,385 1,862,341 966,279 - 282,550 4,231,566 1,189,690 - 683,392 6,710,832 2,263,738 266,531 1,080,426 9,322,615 6,116,194 - 5,183 93,437 23,089 11,728,393 83,423,290 892,085 5,825,308 - 5,825,308 - - - 1,766,307 - - 157,591 157,591 - 329,782 571,161 18,775,244 16,682,962 $ 6,155,090 $ 12,457,145 $ 109,947,740 $ 17,575,047 C-18 MONROE COUNTY, FLORIDA-BOARD OF COUNTY COMMISSIONERS STATEMENT OF REVENUES, EXPENSES, AND CHANGES IN NET POSITION PROPRIETARY FUNDS FOR THE YEAR ENDED SEPTEMBER 30, 2016 Operating Revenues: Franchise Fees Charges for Services Fines and Forfeitures Miscellaneous Total Operating Revenues Operating Expenses: Personnel Services Operations Depreciation and Amortization Asserted and Paid Claims Total Operating Expenses Operating Income (Loss) Nonoperating Revenues (Expenses): Operating Grants Grants and Donations - Other Sources Capital Grants and Contributions Investment Income Insurance Recoveries (Loss) on Disposition of Assets Business -type Activities Enterprise Funds Major Funds Municipal Card Key Service District Sound West Waste Bridge Airport $ 473,600 $ - $ - 17, 795,448 1,148,222 7,131,120 - - 336 44,295 2,400 1,565 18,313,343 1,150,622 7,133,021 1,251,221 807,438 2,593,981 16,735,119 375,398 5,440,279 90,905 340,516 2,475,888 18,077,245 1,523,352 10,510,148 236,098 (372,730) (3,377,127) 181,818 - 1,263,595 66,719 25,757 9,965 (11,243) (5,565) (42,400) Total Non -Operating Revenues (Expenses) 237,294 20,192 1,231,160 Income (Loss) Before Contributions and Transfers Transfers from Other Funds Transfers to Other Funds Transfers from Constitutional Officers Change in Net Position Net Position -October 1 Net Position -September 30 473,392 (352,538) (2,145,967) - - 198,970 (263,190) (514,503) (331,280) 4,100 - - 214,302 (867,041) (2,278,277) 16,781,013 13,284,752 64,200,756 $ 16,995,315 $ 12,417,711 $ 61,922,479 The notes to the financial statements are an integral part of these statements. C-19 Governmental Major Funds Activities PFC Internal Operations & Marathon Service Restrictions Airport Total Funds $ 473,600 $ - - 968,966 27,043,756 22,061,021 - - 336 - - 332 48,592 203,662 - 969,298 27,566,284 22,264,683 - 364,667 5,017,307 1,881,824 873,420 853,245 24,277,461 4,595,278 - 627,885 3,535,194 65,345 - - - 19,117,602 873,420 1,845,797 32,829,962 25,660,049 (873,420) (876,499) (5,263,678) (3,395,366) 787,095 626,031 2,858,539 - - 44,000 44,000 - 1,355,386 169,928 1,525,314 - 25,333 6,198 133,972 78,607 - - - 1,139,578 - (7,868) (67,076) (57,236) 2,167,814 838,289 4,494,749 1,160,949 1,294,394 (38,210) (768,929) (2,234,417) - 17,390 216,360 - (216,360) (50,153) (1,375,486) (579,520) - - 4,100 - 1,078,034 (70,973) (1,923,955) (2,813,937) 5,077,056 12,528,118 111,871,695 20,388,984 $ 6,155,090 $ 12,457,145 $ 109,947,740 $ 17,575,047 C-20 MONROE COUNTY, FLORIDA-BOARD OF COUNTY COMMISSIONERS STATEMENT OF CASH FLOWS PROPRIETARY FUNDS FOR THE YEAR ENDED SEPTEMBER 30, 2016 Operating Activities: Cash Received for Services Cash Received from Other Funds for Goods and Services Cash Received from Insurance Recoveries Cash Payments to Suppliers for Goods and Services Cash Payments for Employee Services Cash Payments to Other Funds Cash Payments for Claims Other Operating Revenue Net Cash Provided by (Used in) Operating Activities Noncapital Financing Activities: Operating Grants Received Transfers from Other Funds Transfers to Other Funds Transfers from Constitutional Officers Net Cash Provided by (Used in) Noncapital Financing Activities Capital and Related Financing Activities: Proceeds from Capital Grants Acquisition of Capital Assets Net Cash Provided by (Used in) Capital and Related Financing Activities Investing Activities: Business -Type Activities Enterprise Funds Major Funds Municipal Card Key Service District Sound West Waste Bridge Airport $ 18,577,310 $ (16,686,390) (1,233,157) (969) 35,276 692.070 1,148,182 $ 7,536,227 245,962 2,305 (393,788) (5,473,471) (803,725) (2,566,732) - (1,205,065) - 1,368 196,631 (1,705,368) 181,818 - 1,263,595 - - 198,970 (263,190) (514,503) (331,280) 4,100 - - (77,272) (514,503) 1,131,285 (403,176) (72,612) (645,768) (403,176) (72,612) (645,768) Investment Income 66,719 25,757 9,965 Proceeds from Sales and Maturities of Investments 6,926,803 3,693,186 1,704,559 Purchase of Investment Securities (8,654,454) (4,299,253) (892,651) Net Cash Provided by (Used in) Investing Activities (1,660,932) (580,310) 821,873 Net Increase (Decrease) in Cash and Cash Equivalents (1,449,310) (970,794) (397,978) Cash and Cash Equivalents: October 1 5,583,615 1,708,395 3,346,098 September 30 $ 4,134,305 $ 737,601 $ 2,948,120 The notes to the financial statements are an integral part of these statements. C-21 Governmental Major Funds Activities PFC Internal Operations & Marathon Service Restrictions Airport Total Funds $ 205,133 $ 961,825 $ 28,428,677 $ 22,057,688 390,690 80,488 719,445 438,315 - - - 1,139,578 (1,126,125) (701,414) (24,381,188) (4,803,494) - (354,093) (4,957,707) (1,888,490) - (35,244) (1,241,278) (28,589) - - - (19,451,738) - - 36,644 190,447 (530,302) (48,438) (1,395,407) (2,346,283) 787,095 670,031 2,902,539 - - 17,390 216,360 - (216,360) (50,153) (1,375,486) (579,520) - - 4,100 - 570,735 637,268 1,747,513 (579,520) 1,355,386 169,928 1,525,314 - - (743,260) (1,864,816) (18,794 1,355,386 (573,332) (339,502) (18,794) 25,333 6,198 133,972 78,607 - 258,613 12,583,161 10,781,851 - (697,001) (14,543,359) (13,383,664) 25,333 (432,190) (1,826,226) (2,523,206) 1,421,152 (416,692) (1,813,622) (5,467,803) 4,770,107 836,886 16,245,101 10,107,910 $ 6,191,259 $ 420,194 $ 14,431,479 $ 4,640,107 (Continued) C-22 MONROE COUNTY, FLORIDA-BOARD OF COUNTY COMMISSIONERS STATEMENT OF CASH FLOWS (CONTINUED) PROPRIETARY FUNDS FOR THE YEAR ENDED SEPTEMBER 30, 2016 Reconciliation of Operating Income (Loss) to Net Cash Provided by (Used in) Operating Activities: Operating Income (Loss) Adjustments to Reconcile Operating Income (Loss) to Net Cash Provided by (Used in) Operating Activities: Depreciation and Amortization Nonoperating Income -Insurance Recoveries Change in Assets and Liabilities: (Increase) Decrease in Accounts Receivable (Increase) Decrease in Due from Other Funds (Increase) Decrease in Due from Other Gov't Units (Increase) Decrease in Due from Constitutional Ofcrs (Increase) Decrease in Interest Receivable Increase (Decrease) in Accounts Payable Increase (Decrease) in Retainage Payable Increase (Decrease) in Accrued Wages/Benefits Increase (Decrease) in Claims/Judgments Payable Increase (Decrease) in Due to Other Funds Increase (Decrease) in Due to Other Gov't Units Increase (Decrease) in Due to Constitutional Ofcrs Increase (Decrease) in Comp. Absences Payable Increase (Decrease) in Deposits in Escrow Increase (Decrease) in Landfill Closure Costs Increase (Decrease) in Unearned Revenue Increase (Decrease) in OPEB Liability Increase (Decrease) in Pension Liability Increase (Decrease) in Deferred Outflows Increase (Decrease) in Deferred Inflows Total Adjustments Net Cash Provided by (Used in) Operating Activities Noncash Investing, Capital, and Financing Activities: (Loss) on Disposition of Assets Change in Fair value of Investments Cash Reconciliation: Unrestricted Restricted Total Business -Type Activities Enterprise Funds Major Funds Municipal Card Key Service District Sound West Waste Bridge Airport $ 236,098 $ (372,730) $ (3,377,127) 90,905 340,516 2,475,888 399,171 (40) 401,281 - - (175,611) (3,554) - 45,866 (133) - 132,050 (9,019) (4,379) (533) 49,300 (16,411) (47,685) - - 14,493 (60,702) (39,240) (134,722) (335) 246,113 (1,205,584) (634) 297 519 - (448) - 18,230 6,049 12,153 1,550 - - 1,566 - - (90,909) - 3,826 25,934 14,936 27,086 297,860 183,812 1,125,108 (199,622) (123,300) (760,229) (63,636) (38,544) (242,147) 455,972 569,361 1,671,759 $ 692,070 $ 196,631 $ (1,705,368) $ (11,243) $ (5,565) $ (42,400) $ 52,698 $ 26,179 $ 5,435 $ 2,367,998 $ 737,601 $ 2,948,120 1,766,307 - - $ 4,134,305 $ 737,601 $ 2,948,120 The notes to the financial statements are an integral part of these statements. C-23 Major Funds PFC Operations & Marathon Restrictions Airport Total Governmental Activities Internal Service Funds $ (873,420) $ (876,499) $ (5,263,678) $ (3,395,366) - 627,885 3,535,194 65,345 - - - 1,139,578 205,133 7,997 1,013,542 (3,333) - (17,390) (193,001) - 197,689 97,878 337,879 3,589 - - 131,917 (17,250) - (846) (14,777) (13,923) (155,213) 243,699 73,690 (207,508) (97,492) (91,354) (174,353) - (20,547) (255,211) (90,554) - - - (334,136) 193,001 (93) (766,898) 416,978 - (35,151) (34,969) 10 - - (448) 6,399 - 2,394 38,826 (11,586) - - 1,550 - - - 1,566 - - (15,138) (102,221) - - 17,385 85,341 44,279 - 96,817 1,703,597 439,261 - (60,886) (1,144,037) (298,891) - (24,589) (368,916) (89,175) 343.118 828.061 3.868.271 1.049.083 $ (530,302) $ (48,438) $ (1,395,407) $ (2,346,283) $ - $ (7,868) $ (67,076) $ (57,236) $ - $ 4,244 $ 88,556 $ 81,494 $ 329,782 $ 262,603 $ 6,646,104 $ 4,640,107 5,861,477 157,591 7,785,375 - $ 6,191,259 $ 420,194 $ 14,431,479 $ 4,640,107 C-24 MONROE COUNTY, FLORIDA-BOARD OF COUNTY COMMISSIONERS Notes To Financial Statements For the Year Ended September 30, 2016 NOTE 1 — SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES The following summary of the more significant accounting policies of the Monroe County, Florida Board of County Commissioners (the "Board") is presented to assist the reader in interpreting these financial statements and should be viewed as an integral part of this report. Reporting Entity Monroe County, Florida (the "County") is a Non -Charter County established as provided by Article VIII Section 1 of the Florida Constitution and Section 125 of the Florida Statutes. The primary government of the County is comprised of the Board of County Commissioners and five "constitutional officers": Clerk of the Circuit Court, Property Appraiser, Sheriff, Supervisor of Elections and Tax Collector. Entity status for financial reporting purposes is governed by Statement No. 14, as amended, of the Governmental Accounting Standards Board (GASB) and Rules of the Auditor General, State of Florida. The GASB is the standard -setting body for the establishment of accounting principles generally accepted in the United States of America (GAAP) for governmental entities. The financial statements of the Board, when combined with all of its blended component units and the constitutional officers, constitute the "primary government" of Monroe County according to GAAP. The primary government constitutes the complete GAAP basis financial reporting entity of the County, presented in the Monroe County, Florida Comprehensive Annual Financial Report. Since this report excludes the constitutional officers, these Board financial statements do not purport to reflect the financial position or the results of operations of Monroe County, Florida taken as a whole. Rather, they have been prepared to provide information at this level of detail greater than what is available in the County's financial statements. The Board of County Commissioners, composed of five members, is the legislative body for Monroe County and as such budgets and provides the funding used by the separate Constitutional Offices with the exception of fees collected by the Clerk of the Circuit Court and the Tax Collector. Under the direction of the Clerk of the Circuit Court, the Monroe County Finance Department maintains the accounting system for the Board's operations, excluding those of the Property Appraiser, Sheriff, Tax Collector, Clerk of the Circuit Court and Supervisor of Elections, each of which maintains its own respective accounting system. Services provided by the Board and accounted for within these financial statements include police services for unincorporated areas of the County; health and social services; emergency medical services; cultural and recreational programs; solid waste services and other governmental services. D-1 MONROE COUNTY, FLORIDA-BOARD OF COUNTY COMMISSIONERS Notes To Financial Statements For the Year Ended September 30, 2016 NOTE 1 — SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (continued) These financial statements include all funds of the Board and its blended component units, if material. "Component units" are legally separate entities for which operational or financial responsibility rests with the Board or for which the nature and significance of their relationship to the Board is such that exclusion would cause the financial statements to be misleading or incomplete. Blended component units are legally separate entities that are, in substance, part of the Board's operation, as they either have governing bodies that are substantively the same as the Board or they provide their services exclusively, or almost exclusively, to the Board. The financial transactions of the component unit are merged with similar transactions of the Board as part of the primary government. The blended component unit of the Board is as follows: Monroe County Industrial Development Authority (MCIDA) — The MCIDA was created by Monroe County, Florida Resolution, pursuant to Florida Statute 159. The MCIDA serves to assist in financing and refinancing capital projects, which will foster economic development in the County. The Monroe County Board of County Commissioners serves as the governing board and provides services exclusively to the County. Therefore, the MCIDA, for financial reporting purposes, is considered a blended component unit of Monroe County, Florida. The MCIDA is not legally required to adopt a budget; however, the Board must authorize the issuance of bonded debt. Neither the MCIDA nor the Board has any legal obligation for repayment of the revenue bonds of the MCIDA. As an issuer of "conduit" debt obligations, the MCIDA has no assets, liabilities, or transactions during the current year. Discretely -presented component units are legally separate entities which do not meet the criteria for blending. They are reported in a separate column to emphasize their legal separation from the Board. The following is a discretely -presented component unit of the Board: Monroe County, Florida Comprehensive Plan Land Authority (MCLA) — The MCLA was created by Monroe County, Florida Ordinance 031-1986 pursuant to Florida Statute 380 and is considered a legally separate entity from Monroe County. The objectives of the entity are to operate a land acquisition program in Monroe County, implement the Monroe County Comprehensive Plan and address issues created by it. The Monroe County Board of County Commissioners serves as the governing board; however, there is no financial benefit or burden relationship. Therefore, the MCLA, for financial reporting purposes, is considered a discretely - presented component unit of Monroe County, Florida and is presented as a separate column in the County's financial statements. Complete financial statements for MCLA can be obtained from MCLA's administrative office at 1200 Truman Avenue, Suite 207, Key West, Florida 33040. D-2 MONROE COUNTY, FLORIDA-BOARD OF COUNTY COMMISSIONERS Notes To Financial Statements For the Year Ended September 30, 2016 NOTE 1 — SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (continued) Basis of Presentation: The Board's financial statements are prepared in accordance with Chapter 10.550, Rules of the Auditor General Local Governmental Entity Audits (the "Rules"), which do not require separate financial statements for the Board but specify certain requirements if such financial statements are presented. Requirements include presentation of fund -level and component unit financial statements. Government - wide financial statements, related disclosures and management's discussion and analysis are not required by the Rules and are not presented. As such, these statements present information about the Board's funds, but do not present a complete presentation of the Board's financial position and changes in financial position. Separate columns are presented for each major governmental fund and for each major enterprise fund. The following are reported as major governmental funds: General Fund — The General Fund is the general operating fund of the Board. All general tax revenues and other receipts not required either legally or by accounting principles generally accepted in the United States of America to be accounted for in other funds, are accounted for in the General Fund. Fine and Forfeiture Special Revenue Fund — The Fine and Forfeiture Fund is used to account for revenues received from fines and forfeitures imposed from the commission of statutory offenses, ad valorem taxes transferred to the Sheriff and to account for operations of the County's court support system. Governmental Grants Special Revenue Fund — The Governmental Grant Fund is used to account for operating revenues and expenditures for governmental activity of federal and state grants. One Cent Infrastructure Surtax Capital Project Fund — The One Cent Infrastructure Surtax Fund is used to account for capital improvements funded by the One Cent Infrastructure Surtax. Big Coppitt Wastewater Capital Project Fund — The Big Coppitt Wastewater Capital Project Fund is used to account for the revenues and expenditures for the wastewater infrastructure for the Big Coppitt, Geiger Key, Shark Key and Rockland Key areas of Monroe County. Cudj oe Regional Wastewater Capital Project Fund — The Cudj oe Regional Wastewater Capital Project Fund is used to account for the revenues and expenditures for the wastewater infrastructure for the Cudj oe Regional area of Monroe County. All Debt Service Fund — The All Debt Service Fund is used to account for accumulation of resources for, and payment of, interest and principal on the long-term debt incurred in the issuance of various revenue bonds and notes. D-3 MONROE COUNTY, FLORIDA-BOARD OF COUNTY COMMISSIONERS Notes To Financial Statements For the Year Ended September 30, 2016 NOTE 1 — SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (continued) The following are reported as major enterprise funds: Municipal Service District -Waste — The Municipal Service District -Waste Fund is used to account for the operations of solid waste collection, disposal and recycling activities, as well as the closure and post closure of the landfills. Card Sound Bridge — The Card Sound Bridge Fund is used to account for the operations of Monroe County's Card Sound Toll Bridge. Key West Airport — The Key West Airport Fund is used to account for the operations of Monroe County's Key West International Airport. PFC Operations & Restrictions — The Passenger Facility Charge (PFC) Operations & Restrictions Fund is used to collect passenger finance charges to be used for capital expenditures related to Monroe County's Key West International and Marathon Airports. Marathon Airport — The Marathon Airport Fund is used to account for the operations of Monroe County's Florida Keys Marathon International Airport. The Board also reports the following fund types: Internal Service Funds — Internal service funds are used to account for the financing of workers' compensation insurance, health insurance, general liability insurance and fleet maintenance services provided by one department to other departments of the Board or to other governmental units on a cost reimbursement basis. Measurement Focus and Basis of Accounting: Governmental fund financial statements are reported using the current financial resources measurement focus and the modified accrual basis of accounting. Revenues are recognized when they become susceptible to accrual; that is, when they become both "measurable" and "available" to finance expenditures of the current period. The Board considers amounts collected within 60 days after year end to be available and thus recognizes them as revenues of the current year, except for property taxes since such taxes are collected to finance expenditures of the subsequent period. Expenditures are recognized in the accounting period in which the related fund liability is incurred, if measurable. Principal and interest on general long-term debt are recorded as fund liabilities when due or when amounts have been accumulated in the debt service fund for payments to be made early in the following year. In addition, expenditures related to compensated absences are recorded only when leave has been taken. MONROE COUNTY, FLORIDA-BOARD OF COUNTY COMMISSIONERS Notes To Financial Statements For the Year Ended September 30, 2016 NOTE 1 — SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (continued) Revenues of the Board, which are susceptible to accrual under the modified accrual basis of accounting, include property taxes, gas taxes, sales taxes, interest revenue and charges for services. In applying the susceptibility -to -accrual concept to intergovernmental revenues, the legal and contractual requirements of the numerous individual programs are used as guidance. There are, however, essentially two types of these revenues. In one type, monies must be expended for the specific purpose or project before any amounts will be paid to the Board; therefore, revenues are recognized based upon the expenditures recorded. In the other type, monies are virtually unrestricted as to purpose of expenditure and substantially irrevocable; i.e., revocable only for failure to comply with prescribed compliance requirements, such as with equal employment opportunity. These resources are reflected as revenues at the time of receipt or earlier if they meet the availability criterion. If revenues are expected to be received later than 60 days following the end of the fiscal year, then a receivable is recorded, along with deferred inflows of resources. Once the funds are received, revenue and cash are recorded and the receivable and deferred inflows of resources are eliminated. The proprietary fund statements use a flow of economic resources measurement focus and the accrual basis of accounting. Revenues are recognized when earned and expenses are recognized when incurred, regardless of when the related cash flows take place. Non -exchange transactions, in which the board gives (or receives) value without directly receiving (or giving) equal value in exchange, include grants. On an accrual basis, revenue from grants is recognized in the fiscal year in which all eligibility requirements have been satisfied. The County has chosen to fund the Volunteer Firefighter and Emergency Medical Services Length of Service Award Pension Plan (LOSAP) on a pay-as-you-go basis. Pension expenditures are made from the General Fund, which is maintained on the modified accrual basis of accounting. Benefits and refunds are recognized when due and payable in accordance with the terms of the plan. The LOSAP has no assets accumulated in a trust that meets the following criteria, outlined in GASB Statements 67 and 68: • Contributions to the pension plan and earnings on those contributions are irrevocable. • Pension plan assets are dedicated to providing benefits to plan members. • Pension plan assets are legally protected from the creditors or employers. Method Used to Value LOSAP Investments — No funds are set aside to pay benefits and administration costs. These expenditures are paid as they become due. D-5 MONROE COUNTY, FLORIDA-BOARD OF COUNTY COMMISSIONERS Notes To Financial Statements For the Year Ended September 30, 2016 NOTE 1 — SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (continued) Proprietary funds distinguish operating revenues and expenses from nonoperating items. Operating revenues and expenses generally result from providing services and producing and delivering goods in connection with a proprietary fund's principal ongoing operations. The principal operating revenues of the Board's enterprise funds are charges to customers for sales and services. Operating expenses for enterprise funds include the cost of sales and services, administrative expenses, and depreciation on capital assets. All revenues and expenses not meeting this definition are reported as nonoperating revenues and expenses. Use of Estimates — The presentation of financial statements in conformity with accounting principles generally accepted in the United States of America, as applicable to governmental units, requires management to make use of estimates that affect the reported amounts in the financial statements. Actual results could differ from estimates. Budgets and Budgetary Data — Listed below are the statutory procedures followed by the Board of County Commissioners in establishing the budget for Monroe County: 1) On or before June 1 of each year, the Sheriff, the Clerk of the Circuit Court, the Property Appraiser, the Tax Collector and the Supervisor of Elections shall each submit to the Board a tentative budget for their respective offices for the ensuing fiscal year. 2) Within fifteen days after certification of the ad valorem tax roll by the Property Appraiser, the County Budget Officer submits to the Board a proposed budget for the fiscal year commencing the following October 1. The budget includes proposed expenditures and the means of financing said expenditures. 3) By Board resolution, a tentative budget is submitted to the public. Public hearings are held to obtain taxpayer comments. 4) Fifteen days after adoption of the tentative budget, a final budget is submitted for review and adoption at a final public hearing. 5) Prior to, or on September 30, the Board's budget is legally enacted through passage of a resolution. Accordingly, all fund types have an adopted budget, as required by Florida Statute 129.03. All funds have legally adopted budgets. 6) During the year, the Office of Management and Budget acts on intradepartmental budget changes that do not alter the total revenue or expenditures budgeted to a cost center. A cost center represents a particular area of Board operations or a department. All other budget changes (whether they are transfers between cost centers or alterations of total revenues and expenditure in a fund) are approved by the Board. Supplemental appropriations were necessary and the budgetary data presented herein was amended by the Board during the year. 7) Florida Statute 129, Section 7, as amended in 1978, provides that only expenditures in excess of total fund budgets are unlawful. However, because the Board acts on all budget changes between cost centers, this becomes the level of control. 8) Budgeted to actual expenditure reports are employed as a management control device during the year for all fund types. 9) Budgets for all funds are adopted on a basis consistent with accounting principles generally accepted in the United States of America (GAAP) for that fund type. MONROE COUNTY, FLORIDA-BOARD OF COUNTY COMMISSIONERS Notes To Financial Statements For the Year Ended September 30, 2016 NOTE 1 — SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (continued) 10) All appropriations lapse at year-end. Encumbrances — Encumbrance accounting, under which purchase orders, contracts and other commitments for the expenditure of moneys are recorded in the restricted, committed or assigned fund balance classifications, and is employed as an extension of the statutorily required budgetary process. Under Florida Statutes, appropriations, even if encumbered, lapse at fiscal year-end. The Board's intention is to substantially honor these encumbrances under authority provided in the subsequent year's budget. Cash and Cash Equivalents — Cash balances from the majority of funds are pooled for investment purposes. Earnings from such investments are allocated to the respective funds based on applicable cash participation by each fund. The investment pools are managed such that all participating funds have the ability to deposit and withdraw cash as if they were demand deposit accounts. Therefore, all balances representing participants' equity in the investment pools are classified as cash equivalents for purposes of these statements. For investments, held separately from the pools, and are highly liquid (including restricted assets) with an original or remaining maturity of 90 days or less, are considered cash equivalents. Investments — Florida Statute 218.415 authorizes local governments to invest its funds pursuant to a written investment plan, which allows investment of surplus funds in the following: 1) The Florida Local Government Surplus Funds Trust Fund Investment Pool (SBA). 2) United States Government Securities — Negotiable direct obligations or obligation, the principal and interest of which are unconditionally guaranteed by the United States Government. 3) United States Government Agencies — Bonds, debentures, notes, callables and fixed rate mortgage -backed securities issued or guaranteed by United States Government Agencies, provided such obligations are backed by the full faith and credit of the United States. 4) Federal Instrumentalities (United States Government -sponsored agencies) — senior obligations, which include bonds, debentures, notes, callables and fixed rate mortgage -backed securities issued or guaranteed by United States government -sponsored agencies (Federal Instrumentalities). These are limited to the following: • Federal Farm Credit Bank (FFCB) • Federal Home Loan Bank or its County banks (FHLB) • Federal National Mortgage Association (FNMA) • Federal Home Loan Mortgage Corporations (Freddie Mac) including Federal Home Loan Mortgage Corporation participation certificates. 5) Interest -Bearing Time Deposit or Savings Account — Non-negotiable interest -bearing time certificates of deposit or savings accounts in financial institutions organized under the laws of this State and/or in national financial institutions organized under the laws of the United States and doing business and situated in the State of Florida, provided that any such deposits are secured by the Florida Security for Public Deposits Act, Chapter 280, Florida Statutes. Additionally, the financial institution shall not be listed with any recognized credit watch information service. D-7 MONROE COUNTY, FLORIDA-BOARD OF COUNTY COMMISSIONERS Notes To Financial Statements For the Year Ended September 30, 2016 NOTE 1 — SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (continued) 6) Registered Investment Companies (Money Market Mutual Funds) — Shares in open-end and no- load Money Market Mutual Funds provided such funds are registered under the Federal Investment Company Act of 1940 and operate in accordance with 17 C.F.R. 270.2a-7, which stipulates that money market funds must have an average weighted maturity of 90 days or less. In addition, the share value of the money market funds must equal to $1.00. 7) Intergovernmental Investment Pool — Intergovernmental Investment Pools that are authorized pursuant to the Florida Interlocal Cooperation Act, as provided in Section 163.01, Florida Statutes. All investments are stated at fair value or at amortized cost, which approximates fair value. Accounts Receivable — Amounts due from private individuals, organizations, or other governments, which pertain to charges for services rendered by Board departments, are reported as accounts receivable. Receivables are reviewed periodically to establish or update the provisions for uncollectible amounts. These provisions are estimated based on an analysis of the age of the various accounts. Interfund Balances and Activity — During the course of normal operations, the Board has numerous transactions between funds. Examples of these transactions include providing services, constructing assets, matching grants or servicing debt. These transactions are generally recorded as interfund transfers, except for internal service fund charges, which are reflected as revenues to internal service funds and expenses/expenditures to the funds receiving the services. Additionally, short-term interfund loans are recorded as cash flow needs arise. As of fiscal year-end, any unpaid amounts related to these transactions are reported as "due from other funds" or "due to other funds" on the fund financial statements. Interfund balances and transfers are consolidated for government -wide financial reporting, and residual balances between governmental activities and business type activities, if any, are reported on the government wide Statements of the County. Inventory — Inventory in the General Fund consists of certain supplies, which are stated at cost using the moving average cost method. The inventory is determined by an annual physical count. Inventories are reported as an unspendable classification of fund balance, as these amounts are not in spendable form and are not expected to be converted to cash. Capital Assets — Capital assets of the Board include property, buildings, equipment, and infrastructure assets (e.g. roads, bridges, curbs and gutters, streets and sidewalks, drainage systems and lighting systems). Constructed or purchased assets are recorded at historical or estimated historical cost at the time of purchase. Donated assets are recorded at estimated fair market value at the date of donation. Capital assets associated with business -type activities and the internal service funds are presented in the Board's basic financial statements. Capital assets associated with the Board's governmental activities are presented on the government -wide financial statements of the County, rather than on the financial statements of the Board. MONROE COUNTY, FLORIDA-BOARD OF COUNTY COMMISSIONERS Notes To Financial Statements For the Year Ended September 30, 2016 NOTE 1 — SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (continued) The Board maintains a $1,000 threshold for additions to equipment with an estimated useful life in excess of two years. Buildings are capitalized when the value is $15,000 or greater. Public domain and infrastructure assets represent major expenditures for such items as roads, water and sewer treatment plants and lines, landfill improvements, parks and drainage systems. Additions and improvements for roads, water, sewer, landfill and drainage infrastructure are capitalized when the cost amounts to $250,000 while park additions and improvements are capitalized at $25,000. Depreciation has been provided using the straight-line method. The estimated useful lives of the various classes of depreciable capital assets are as follows: Life — Years Buildings 10- 5 0 Equipment 5-10 Infrastructure 10-50 Public Domain Infrastructure 20-50 Capacity Rights 99 Capacity rights represent an intangible asset that arose from a contract with a private wastewater operator that included wastewater processing capacity for 1,500 equivalent dwelling units for a period of 99 years. The Monroe County Land Authority also has intangible assets consisting of affordable rental housing restrictions applicable to Peary Court in Key West. These restrictions require the housing at Peary Court to be rented at or below the levels set by the City of Key West's Workforce Housing Ordinance. Compensated Absences — Board policy permits employees to accumulate a limited amount of annual and sick leave, which will be paid to employees upon termination of employment. Accumulated annual and sick leave is accrued when earned in the proprietary fund financial statements. For the proprietary funds, an expense and a liability are recorded as the leave is earned. Compensated absences associated with the Board's governmental activities are presented on the government -wide financial statements of the County, rather than on the financial statements of the Board. Restricted Assets — The use of certain assets of enterprise funds is restricted by specific provisions of resolutions and agreements with various parties. Assets so designated are identified as restricted assets on the balance sheet. When both restricted and unrestricted resources are available for use, the hierarchy of enterprise fund spending is to use restricted resources first, followed by unrestricted resources, as they are needed. Restricted assets are classified as noncurrent if they are for acquisition or construction of capital assets, for liquidation of long-term debt, or are for other than current operations. =6 MONROE COUNTY, FLORIDA-BOARD OF COUNTY COMMISSIONERS Notes To Financial Statements For the Year Ended September 30, 2016 NOTE 1— SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (continued) Landfill Closure Costs — Under the terms of current state and federal regulations, the Board is required to place a final cover on closed landfill areas and to perform certain monitoring and maintenance functions for a period of up to 30 years after closure. In accordance with GASB Statement No. 18, the Board is recognizing these costs of closure and post closure maintenance over the active life of each landfill area, based on landfill capacity used during the period. Required obligations for these costs are recognized in the Municipal Service District -Waste enterprise fund for public landfill operations. Deferred Inflows of Resources — Represents an acquisition of net position that applies to a future period and therefore will not be recognized as an inflow of resources until that time. The Board has three items that qualify for reporting in this category: advances from other governments, unavailable revenues and pension -related items. The advances from other governments are grants received in advance of meeting the timing requirements for revenue recognition in governmental funds. The governmental funds report unavailable revenues where receipts are not within the 60 day time frame for revenue recognition. The enterprise and internal service funds report deferred inflows for pension -related items as actuarially determined. Deferred Outflows of Resources — Represents an acquisition of net position that applies to a future period and therefore will not be recognized as an outflow of resources (expense) until that future time. The enterprise and internal service funds report one deferred outflow related to pensions. Long -Term Obligations — Long-term debt is reported as a liability in the proprietary fund statement of net position. Long-term debt associated with the Board's governmental activities is presented on the government -wide financial statements of the County, rather than on the financial statements of the Board. In the Board's governmental fund financial statements, the face amount of debt issued is reported as another financing source, while principal payments are reported as expenditures. Property Taxes — Property taxes, based on assessed values at January 1, are levied and become due and payable on November 1st of each year. A four percent discount is allowed if the taxes are paid in November, with the discount declining by one percent each month thereafter. Taxes become delinquent on April 1st of each year, and tax certificates for the full amount of any unpaid taxes and assessments must be sold not later than June 1st of each year. No accrual for the property tax levy becoming due in November of 2016 is included in the accompanying financial statements, since such taxes are collected to finance expenditures of the subsequent period. Fund Balance Policies — The focus of fund balance reporting is to clearly communicate the constraints imposed upon resources in governmental funds. The fund balance classifications indicate the level of constraints placed upon how resources can be spent and identify the sources of those constraints. The following five classifications: nonspendable, restricted, committed, assigned, and unassigned, serve to inform readers of the financial statements of the extent to which the Board is bound to honor constraints on the specific purposes for which resources in a fund can be spent. D-10 MONROE COUNTY, FLORIDA-BOARD OF COUNTY COMMISSIONERS Notes To Financial Statements For the Year Ended September 30, 2016 NOTE 1 — SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (continued) Fund balances of governmental type funds are classified as follows: Nonspendable — Include amounts that cannot be spent because they are either not in spendable form, or for legal or contractual reasons, must be kept intact. This classification includes inventory. Restricted — Include amounts that can be spent only for specific purposes because of constitutional provisions or enabling legislation, or because of constraints externally imposed by creditors, grantors, contributors or the laws or regulations of other governments. Committed — Include amounts that can be used only for the specific purposes determined by a formal action in the form of a resolution of the Board of County Commissioners, the County's highest level of decision making authority. Commitments may be changed or lifted only by the Board taking the same formal action that imposed the constraint originally. Assigned — Include amounts intended by the Board to be used for specific purposes determined by a formal action in the form of a resolution, but are neither restricted nor committed. The Board's policy authorizes the County Administrator to assign fund balance based on intentions for use of fund balance communicated by the Board. Unassigned — The residual classification of the General Fund. Only the General Fund reports a positive unassigned fund balance. Other governmental funds might report a negative balance in this classification, as the result of overspending for specific purposes for which amounts had been restricted, committed, or assigned. Unassigned fund balance does not necessarily represent the amount of fund balance that can be appropriated. The Board has the responsibility of responding to emergency disaster and has committed $10,000,000 in general fund disaster reserve funds to ensure adequate cash flow is available in post -disaster situations. The Board's policy on unassigned general fund balance is to achieve and maintain an unassigned General Fund balance equal to four months of budgeted expenditures. The Board considers a balance of less than four months to be a cause for concern, barring unusual or deliberate circumstances, and a balance of more than six months as excessive. Since this is a plan for accumulating resources rather than a limitation on how existing resources can be spent, the fund balance policy does not affect the classification of fund balance and is included in the unassigned fund balance. The County spends restricted amounts first, when both restricted and unrestricted fund balance is available, unless prohibited by legal documents, grant agreements or contracts. Additionally, the County uses committed fund balance, followed by assigned fund balance and then unassigned fund balance when expenditures are incurred for purposes for which amounts in any of the unrestricted fund balance classifications could be used. D-11 MONROE COUNTY, FLORIDA-BOARD OF COUNTY COMMISSIONERS Notes To Financial Statements For the Year Ended September 30, 2016 NOTE 1 — SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (continued) Net Position — Net position in the proprietary fund financial statements is classified as net investment in capital assets, restricted, and unrestricted. Restricted net position of $7,749,206 represents constraints on resources that are either externally imposed by creditors, grantors, contributors, or laws or regulations of other governments or imposed by law through state statute. New Accounting Pronouncements — During the fiscal year ended September 30, 2016, the County implemented the following GASB Pronouncements: GASB Statement No. 72, Fair Value Measurement and Application. Effective October 1, 2015, this Statement establishes accounting and financial reporting standards for fair value measurements, the level of fair value hierarchy, and valuation techniques. Implementation did not result in a change in valuation; however, Note 2, Cash, Cash Equivalents and Investments, has been modified to provide the new disclosures required by this Statement. GASB Statement No. 73, Accounting and Financial Reporting for Pensions and Related Assets that are not within the Scope of GASB Statement 68, and Amendments to Certain Provisions of GASB Statements 67 and 68. Effective October 1, 2015, this Statement was issued to improve the usefulness of information about pensions included in the general purpose external financial reports of state and local governments for making decisions and assessing accountability. See Note 23 for further information on the implementation of this Statement. GASB Statement No. 76, The Hierarchy of Generally Accepted Accounting Principles for State and Local Governments. Issued June 2015, this Statement reduces the GAAP hierarchy into two categories of authoritative GAAP and addresses the use of authoritative and non -authoritative literature in the event that the accounting treatment for a transaction or other event is not specified within a source of authoritative GAAP. GASB Statement No. 79, Certain External Investment Pools and Pool Participants. Issued December 2015, this Statement addresses accounting and financial reporting for certain external investment pools and pool participants. Note 2, Cash, Cash Equivalents and Investments, has been modified to provide the new disclosures required by this Statement. D-12 MONROE COUNTY, FLORIDA-BOARD OF COUNTY COMMISSIONERS Notes To Financial Statements For the Year Ended September 30, 2016 NOTE 2 — CASH, CASH EQUIVALENTS AND INVESTMENTS The Board maintains a cash and investment pool available for use by all funds except those whose cash and investments must be segregated due to bond covenants or other legal restrictions. As of September 30, 2016, the carrying value of the Board's deposits and investments, with their respective credit ratings, are as follows: Credit Investment Type Rating Valuation Measurement Less than 6 6 Months to 1 Method Fair Value Months Year 1 to 3 Years Demand and Time Deposits N/A N/A $ 85,086,192 $ 85,086,192- Equity Securities N/A Fair Value - Level 1 10,354 10,354 - - US Treasury Notes AA+ Fair Value - Level 111,027,289 48,208,459 29,052,395 33,766,435 Federal Agency Bond / Note AA+ Fair Value - Level 49,556,252 8,958,817 10,529,832 30,067,603 Total Fair Value $ 245,680,087 $ 142,263,822 $ 39,582,227 $ 63,834,038 The Board categorizes its fair value measurements within the fair value hierarchy established by generally accepted accounting principles. The hierarchy is based on the valuation inputs used to measure the fair value of the asset. Level 1 securities are valued using direct observable unadjusted quoted prices in active markets for identical assets. Level 2 securities are valued using observable inputs other than quoted market prices in active markets. The Florida Local Government Surplus Trust Fund (Florida PRIME) maintains a stable net asset value and is amortized at cost. There are no restrictions or limitations on withdrawals; however, Florida PRIME may, on the occurrence of an event that has a material impact on liquidity or operations, impose restrictions on withdrawals for up to 48 hours. Credit Risk — The Board's Investment Policy (Policy) limits credit risk by restricting authorized investments to the following: Florida Local Government Surplus Funds Trust Fund Investment Pool administered by Florida's State Board of Administration (a 2a7-like pool), direct obligations of the United States or its agencies and instrumentalities, money market mutual funds and Intergovernmental Investment Pools authorized by the Florida Statutes. The Policy requires that investments in federal instrumentality debt be guaranteed by the full faith and credit of the U. S. Government sponsored agency, and that investments in money market mutual funds have a rating of AAAm or AAAm-G or better by Standard & Poor's (S&P) or other nationally recognized rating agency. All credit ratings indicated in the previous table are S&P ratings. D-13 MONROE COUNTY, FLORIDA-BOARD OF COUNTY COMMISSIONERS Notes To Financial Statements For the Year Ended September 30, 2016 NOTE 2 — CASH, CASH EQUIVALENTS AND INVESTMENTS (continued) Concentration of Credit Risk — The Policy establishes limitations on portfolio composition, by both investment type and by issuer, in order to control concentration of credit risk. The Policy provides the following maximum limits of the portfolio, with limits in any one issuer of the portfolio invested: Investment Tvpe Portfolio Maximum Florida Prime (SBA) 100% United States Treasury Securities 100% United States Government Agencies 50% Federal Instrumentalities Maximum in callable securities 80% Interest -bearing Time Deposit or Savings Accounts 10% Money Market Mutual Funds 20% Intergovernmental Investment Pool 10% Maximum in Anv One Issuer N/A N/A 10% 30%, with a maximum of 25% in callable securities 10% 10% N/A At September 30, 2016, the portion of the Board's investment portfolio invested in Federal instrumentalities is detailed as follows: Percent of Investment Issue Portfolio Federal Home Loan Bank (FHLB) 6.25 % Federal National Mortgage Association (FNMA) 9.98% Federal Home Loan Mortgage Corporation (FHLMC) 14.63 % Custodial Credit Risk — The Policy requires bank deposits secured as provided by Chapter 280, Florida Statutes. This law requires local governments to deposit funds only in financial institutions designated as qualified public depositories by the Chief Financial Officer of the State of Florida. Demand and time deposits are fully insured by the FDIC for the first $250,000 at each institution and the remaining balances are insured 100% by the State of Florida collateral pool, a multiple institution pool with the ability to assess its members for collateral shortfalls if a member institution fails. The Policy requires execution of a third -party custodial safekeeping agreement for all purchased securities and requires that securities be held in the Board's name. As of September 30, 2016, all of the Board's investments are held in a bank's trust department in the Board's name. Interest Rate Risk — The Policy limits the investment of three months of operating expenditures to twelve months. The Policy limits the investment of noncurrent operating funds to five years. D-14 MONROE COUNTY, FLORIDA-BOARD OF COUNTY COMMISSIONERS Notes To Financial Statements For the Year Ended September 30, 2016 NOTE 2 — CASH, CASH EQUIVALENTS AND INVESTMENTS (continued) Restricted Cash and Cash Equivalents — The Board has the following unrestricted and restricted cash and cash equivalents at September 30, 2016: Unrestricted Cash & Cash Equivalents: Governmental Activities: Governmental Funds Internal Service Funds Business -Type Activities Total Unrestricted Cash & Cash Equivalents Restricted Cash and Cash Equivalents: Business -Type Activities Total Cash and Cash Equivalents NOTE 3 — RESTRICTED ASSETS Local Government Surplus Trust Fund 7,151 7,151 Demand Deposits $ 66,014,606 4,640,107 6,638,953 77,293,666 Total $ 66,014,606 4,640,107 6,646,104 77,300,817 7,785,375 7,785,375 $ 7,151 $ 85,079,041 $ 85,086,192 Restricted assets in the Enterprise Funds include those assets created by resolutions adopted by the Board for the landfill escrow account, airport passenger facility charges and customs service operations. Total restricted assets as of September 30, 2016 are as follows: Municipal District Waste Landfill Closure Escrow PFC Oper & Restrictions Passenger Facility Charge Marathon Airport Customs Service Operations Cash and Cash Equivalents Accounts Receivable Total $ 1,766,307 $ - $ 1,766,307 5,861,477 197,041 6,058,518 157,591 - 157,591 $ 7,785,375 $ 197,041 $ 7,982,416 D-15 MONROE COUNTY, FLORIDA-BOARD OF COUNTY COMMISSIONERS Notes To Financial Statements For the Year Ended September 30, 2016 NOTE 4 — ACCOUNTS RECEIVABLE Accounts receivable, in the accompanying fund financial statements, are shown net of the allowance for doubtful accounts. The accounts receivable and the allowance balances are as follows: Allowance for Accounts Uncollectible Accounts Service Provided Receivable Accounts Receivable, Net Governmental Activities: General Fund Fine & Forfeiture Fund Governmental Grants One Cent Infrastructure Nonmajor Funds: Fire & Amb Dist 1 Fund Other Nonmajor Funds Internal Service Funds Total Governmental Activities Business -Type Activities: MSD-Waste Fund: Card Sound Bridge Key West Airport Marathon Airport Total Business -Type Activities Total Accounts Receivable Misc $ 20,160 $ - $ 20,160 Air Amb Svc 11,132,965 9,766,915 1,366,050 Misc 261 - 261 Misc 80 - 80 Ground Amb Svc 2,613,504 2,606,792 6,712 Misc 2,565 - 2,565 Misc 15,162 - 15,162 13,784,697 12,373,707 1,410,990 Tipping Fees 24,355 2,904 21,451 Waste Assessments 8,139 7,326 813 Solid Waste 40 - 40 Misc 40 - 40 Rent, Misc 547,848 - 547,848 Misc 26,752 - 26,752 607,174 10,230 596,944 $ 14,391,871 $ 12,383,937 $ 2,007,934 The Board of County Commissioners voted to approve air and ground ambulance billing write offs of $875,822 and $360,837 for fiscal year 2016. D-16 MONROE COUNTY, FLORIDA-BOARD OF COUNTY COMMISSIONERS Notes To Financial Statements For the Year Ended September 30, 2016 NOTE 5 — ASSESSMENTS RECEIVABLE The County has been improving water quality by replacing cesspits and septic systems with a series of central wastewater collection and treatment systems. The County has funded these projects with state grants and loans, local infrastructure sales surtax and special assessments levied on the property owners. The property owners have the option of paying their special assessments up front or on an installment basis added to their real estate tax bills. Revenue is recognized on the modified accrual basis. Any remaining assessment owed is recorded as a receivable with an offset to deferred inflows of resources for those amounts that are not available. NOTE 6 — MORTGAGES RECEIVABLE Mortgages receivable at September 30, 2016 consist of the following: or Governmental Funds -Governmental Grants Fund: Second Mortgages Receivable from individuals, collateralized by personal residences. Payment of principal deferred for ten (10) years from date of note. Principal is amortized in equal monthly amounts starting in year six (6) until ten (10) at which time the loan is fully forgiven. In event of sale/transfer of property or occupancy, the prorated principal balance is due in full within thirty (30) days of sale/transfer or cessation of primary residence. $ 496,531 Nonmajor Governmental Funds -Local Housing Assistance: Second Mortgages Receivable from individuals, collateralized by personal residences. Commencing in year sixteen of the mortgage, principal and accrued interest at 3% will be forgiven at the rate of 6.66% annually. The entire principal balance and accrued interest will be forgiven at the end of year thirty. If the residence is sold before the initiation of the forgiveness period, the full amount of the mortgage and accrued interest is due at closing. 45,244 D-17 MONROE COUNTY, FLORIDA-BOARD OF COUNTY COMMISSIONERS Notes To Financial Statements For the Year Ended September 30, 2016 NOTE 6 — MORTGAGES RECEIVABLE (continued) Nonmaj or Governmental Funds -Local Housing Assistance (continued): Second Mortgages Receivable from individuals, collateralized by personal residences. Principal payments shall be deferred for the term of the first mortgage loan, or until the date the last payment is due on the first mortgage. Interest is not charged on the mortgages unless the mortgagor is in default, in which case the interest rate is 12% per annum from the date when payment of the second is due. The entire balance of the loan is intended to be forgiven. However, in the event the home is sold, transferred, rented, refinanced or the first mortgage loan is satisfied, the entire mortgage balance is due. 7,599,844 Second Mortgages Receivable from individuals, collateralized by personal residences. The entire balance of the mortgages will be forgiven upon maturity, provided that the mortgagor complies with the mortgage covenants. The mortgages are interest free. 492,673 Second Mortgages Receivable from individuals, collateralized by personal residences. The entire balance of the mortgages will be forgiven over ten, fifteen or twenty years, provided that the mortgagor complies with the mortgage covenants. The mortgages are interest free. 110,964 Florida Homebuyer Opportunity Tax Credit (FHOP), Second Mortgages Receivable from individuals, collateralized by personal residences. Interest on note is 6% per annum except if paid in full within first 18 months of repayment period then interest rate shall be 0% from the date when the first payment is due. 16,000 Second Mortgages Receivable from individuals, collateralized by personal residences. The entire balance of the mortgages will be forgiven upon maturity, provided that the mortgagor complies with the mortgage covenants. The mortgages are interest free. 212,123 Total Nonmajor Governmental Funds -Local Housing Assistance 8,476,848 Total Mortgages Receivable $ 8,973,379 IM MONROE COUNTY, FLORIDA-BOARD OF COUNTY COMMISSIONERS Notes To Financial Statements For the Year Ended September 30, 2016 NOTE 6 — MORTGAGES RECEIVABLE (continued) The mortgages receivable associated with the governmental grants are offset by an allowance for uncollectible accounts of $496,531. As the mortgages receivable associated with the Local Housing Assistance fund are intended to ultimately be forgiven, an allowance for uncollectible accounts of $8,476,848 has been established. NOTE 7 — CAPITAL ASSETS Amounts associated with the Board's governmental activities' capital assets, related accumulated depreciation and depreciation expense are reported on the government -wide financial statements of the County, rather than on the financial statements of the Board. Amounts associated with the Board's business -type activities' and internal service funds' capital assets, related accumulated depreciation and depreciation expense are reported on the proprietary fund financial statements of the Board. Internal service fund capital asset information is included in the governmental activities on the government -wide financial statements because the internal service funds predominately serve those activities. Capital asset activity for the year ended September 30, 2016 is as follows: Governmental Activities Capital assets not depreciated: Land Construction in progress Total capital assets not depreciated Capital assets depreciated: Buildings Equipment Infrastructure Capacity rights Total capital assets depreciated Less accumulated depreciation for: Buildings Equipment Infrastructure Capacity rights Total accumulated depreciation Total capital assets depreciated, net Governmental funds, capital assets, net Beginning Balances Additions Reductions Ending Balances $ 74,315,911 $ 451,504 $ - $ 74,767,415 153,949,344 54,486,856 (161,516,740) 46,919,460 228,265,255 54,938,360 (161,516,740) 121,686,875 157,230,514 2,875,867 29,602,549 4,322,722 107,098,178 155,581,515 3,150,000 - (1,193,091) 160,106,381 32,732,180 262, 679, 693 3,150,000 297,081,241 162,780,104 (1,193,091) 458,668,254 (58,202,731) (3,284,831) (21,272,667) (3,066,762) (34,384,786) (2,584,616) (349,998) (31,818) (114,210,182) $ (8,968,027) 182,871,059 $ 411,136,314 D-19 - (61,487,562) 1,240,498 (23,098,931) - (36,969,402) (381,816) $ 1,240,498 (121,937,711) 336,730,543 $ 458,417,418 MONROE COUNTY, FLORIDA-BOARD OF COUNTY COMMISSIONERS Notes To Financial Statements For the Year Ended September 30, 2016 NOTE 7 — CAPITAL ASSETS (continued) Business -Type Activities: Capital assets not depreciated: Land Construction in progress Total capital assets not depreciated Capital assets depreciated: Land improvements Buildings Equipment Infrastructure Total capital assets depreciated Less accumulated depreciation for: Land improvements Buildings Equipment Infrastructure Total accumulated depreciation Total capital assets depreciated, net Business -type activities, capital assets, net Beginning Balances Additions Reductions Ending Balances $ 5,647,606 $ - $ - $ 5,647,606 1,729,464 1,376,457 (2,130,617) 975,304 7,377,070 1,376,457 (2,130,617) 6,622,910 212,925 - - 212,925 57,021,105 1,747,898 - 58,769,003 5,004,515 501,513 (624,767) 4,881,261 55,411,637 382,719 - 55,794,356 117,650,182 2,632,130 (624,767) 119,657,545 (212,925) - - (212,925) (13,828,192) (1,495,144) - (15,323,336) (3,911,239) (390,376) 551,153 (3,750,462) (21,914,153) (1,656,289) - (23,570,442) (39,866,509) $ (3,541,809) $ 551,153 (42,857,165) 77,783,673 76,800,380 $ 85,160,743 $ 83,423,290 Depreciation was charged to functions/programs on the government -wide Statement of Activities of the County as follows: Governmental Activities: Business -Type Activities: General Government $ 2,050,349 Municipal Service District -Waste $ 90,905 Public Safety 2,359,287 Card Sound Bridge 340,516 Physical Environment 1,071,430 Key West Airport 2,475,888 Transportation 1,663,320 Marathon Airport 627,885 Economic Environment 29,919 Human Services 203,100 Total Business -Type Activities $ 3,535,194 Culture and Recreation 405,300 Court Related 723,245 Total Governmental Activities $ 8,505,950 The total depreciation expense reported in the table above, does not equal the additions to accumulated depreciation due to transfers of equipment and its associated accumulated depreciation between governmental and proprietary funds. D-20 MONROE COUNTY, FLORIDA-BOARD OF COUNTY COMMISSIONERS Notes To Financial Statements For the Year Ended September 30, 2016 NOTE 8 — POST EMPLOYMENT BENEFITS OTHER THAN PENSION General Information about the Other Post -Employment Benefits Plan Description — The Board administers a single -employer defined benefits healthcare plan (the "Plan"). Florida Statute 112.0801 requires the County to provide retirees and their eligible dependents with the option to participate in the Plan if the County provides health insurance to its active employees and their eligible dependents. The Plan provides medical coverage and prescription drug benefits to both active and eligible retired employees. The Plan does not issue a publicly available financial report. The Board may amend the plan design, with changes to the benefits, premiums and/or levels of participant contribution at any time. In an open session, on at least an annual basis and prior to the annual enrollment process, the Board approves the rates for the coming calendar year for the retiree and County contributions. The Plan includes participants from the Board and each Constitutional Officer. The Board is responsible for funding all obligations not funded on a pay as you go basis by Constitutional Officers. Accordingly, all disclosures are on a County -wide basis and the net OPEB obligation for the Board includes obligations related to the Constitutional Officers. Benefits Provided — Employees who retire as an active participant in the Plan and were hired on or after October 1, 2001 may continue to participate in the Plan by paying the monthly premium established annually by the Board. Employees who retire as an active participant in the Plan, were hired before October 1, 2001, have at least ten years of full time service with the County and meet the retirement criteria of the Florida Retirement System (FRS) may continue to participate in the Plan at a cost equal to the FRS Health Insurance Subsidy for ten years of service (currently $5 per month for each year of service credit at retirement or $50 per month). Retirees who have met the requirements for early retirement, have not achieved age 60 and whose age and years of service do not equal 70 (rule of 70) must pay the standard monthly premium until the age criteria or the rule of 70 is met. At that time, the retiree's cost of participation will be equal to the FRS Health Insurance Subsidy. Surviving spouses and dependents of participating retirees may continue in the Plan if eligibility criteria specific to those classes are met. Employees Covered by Benefit Terms — Eligibility for post -employment participation in the Plan is limited to full time employees of the County and the Constitutional Officers. At September 30, 2016, there were no terminated employees entitled to deferred benefits. The membership of the County's medical plan consisted of: Active Employees 1,250 Retirees and Beneficiaries Currently Receiving Benefits 420 Total Membership D-21 1,670 MONROE COUNTY, FLORIDA-BOARD OF COUNTY COMMISSIONERS Notes To Financial Statements For the Year Ended September 30, 2016 NOTE 8 — POST EMPLOYMENT BENEFITS OTHER THAN PENSION (continued) Contributions — The County establishes and may amend, the contribution requirements of Plan members. The required contribution is based on pay-as-you-go financing requirements, net of member contributions. Net OPEB Liability Actuarial Methods and Assumptions —Projections of benefits for financial reporting purposes are based on the substantive Plan (the Plan as understood by the employer and Plan members) and include the types of benefits provided at the time of each valuation and the historical pattern of benefit cost sharing between the employers and Plan members to that point. The valuation dated December 27, 2016, as of October 1, 2015, was prepared using generally accepted actuarial principles and practices, and relied on unaudited census data and medical claims data reported by the County. The valuation used the projected unit credit actuarial method. Demographic assumptions mirror those used for the various Florida Retirement System pension funds. The actuarial assumptions include an annual health care cost trend rate of 7.5% initially, reduced by decrements of 0.5% to an ultimate rate of 4.5%. The assumptions included a discount rate tied to the return expected on the funds used to pay the benefits, and assumes for an unfunded plan, that the benefits continue to be funded on a pay-as-you-go basis, that the County's investments earn a 4.0% rate of return over the long term, and the inflation rate will be 3.5%. The unfunded accrued actuarial liability is amortized over thirty years on an open basis, as a level percentage of the projected payroll, assumed to increase at 3.5% per annum. Annual OPEB Costs and Net OPEB Obligation — The County's annual other postemployment benefit (OPEB) cost (expenses) is calculated based on the annual required contribution of the employer (ARC), an amount actuarially determined in accordance with the parameters of GASB Statement 45. The ARC represents a level of funding that, if paid on an ongoing basis, is projected to cover normal cost each year and amortize any unfunded liabilities over a period not to exceed thirty years. The following table shows the actuarially determined components as of October 1, 2015 (the latest actuarial valuation date) under the current plan provisions, of the County's unfunded annual OPEB cost, the amount actually contributed to the plan and the changes in the County's net OPEB obligation to the Plan. Annual Required Contribution $ 5,484,000 Interest on Net OPEB Obligation 1,524,000 Adjustment to Annual Required Contribution (1,361,000) Annual OPEB Cost 5,647,000 Less Contributions Made (3,818,453) Increase in Net OPEB Obligation 1,828,547 Net OPEB Obligation, Beginning of Year 38,100,486 Net OPEB Obligation, End of Year $ 39,929,033 D-22 MONROE COUNTY, FLORIDA-BOARD OF COUNTY COMMISSIONERS Notes To Financial Statements For the Year Ended September 30, 2016 NOTE 8 — POST EMPLOYMENT BENEFITS OTHER THAN PENSION (continued) The County's annual OPEB cost, the percentage of annual OPEB cost contributed to the plan and the net OPEB obligation for 2016 and the two preceding years were as follows (amounts expressed in thousands): Fiscal Annual Percentage Net Year OPEB Annual Cost OPEB Ended Cost Contributed Obligation 9/30/2014 $ 6,449 41.2% $ 34,364 9/30/2015 6,700 55.5% 38,100 9/30/2016 5,647 67.6% 39,929 The estimated net OPEB obligation at the end of the year is $38,066,692 for Governmental Activities and $1,862,341 for Business -type Activities. The OPEB obligation for governmental activities is presented only on the government -wide financial statements of the County. No trust or agency fund has been established for the plan; there were no adjustments to the annual required contribution or interest earnings. Funded Status and Funding Progress — At September 30, 2016, funded status and funding progress is as follows (amounts expressed in thousands): Actuarial Accrued Actuarial Actuarial Liability - UAAL as a Valuation Value of Projected Unfunded Funded Covered Percentage of Date Assets Unit Credit AAL Ratio Payroll Covered Payroll 10/1/2013 $ - $ 97,091 $ 97,091 0% $ 69,338 140.03% 10/1/2014 - 100,105 100,105 0% 70,326 142.34% 10/1/2015 - 96,096 96,096 0% 66,814 143.83% Actuarial valuations of an ongoing plan involve estimates of the value of reported amounts and assumptions about the probability of occurrence of events far into the future. Examples include assumptions about future employment, mortality and the healthcare cost trend. D-23 MONROE COUNTY, FLORIDA-BOARD OF COUNTY COMMISSIONERS Notes To Financial Statements For the Year Ended September 30, 2016 NOTE 8 — POST EMPLOYMENT BENEFITS OTHER THAN PENSION (continued) Amounts determined regarding the funded status of the Plan and the annual required contributions of the employer are subject to continual revision as actual results are compared with past expectations and new estimates are made about the future. The schedule of funding progress, presented as required supplementary information following the notes to the financial statements, presents trend information about whether the actuarial value of Plan assets is increasing or decreasing over the time relative to the actuarial accrued liabilities for benefits. Schedule of Employer Contributions — At September 30, the annual required contributions (ARC) to the Plan were as follows (amounts expressed in thousands): Employer Contributions Annual Required Percentage of Year Ended Contribution ARC September 30 (ARC) Contributed 2016 $ 5,484 70% 2015 6,466 46% 2014 6,240 43% NOTE 9 — FLORIDA RETIREMENT SYSTEM RETIREMENT PLANS Florida Retirement System: General Information — All of the Board's employees participate in the Florida Retirement System (FRS). As provided by Chapters 121 and 112, Florida Statutes, the FRS provides two cost sharing, multiple employer defined benefit plans administered by the Florida Department of Management Services, Division of Retirement, including the FRS Pension Plan (Pension Plan) and the Retiree Health Insurance Subsidy (HIS Plan). Under Section 121.4501, Florida Statutes, the FRS also provides a defined contribution plan (Investment Plan) alternative to the FRS Pension Plan, which is administered by the State Board of Administration (SBA). As a general rule, membership in the FRS is compulsory for all employees working in a regularly established position for a state agency, county government, district school board, state university, community college, or a participating city or special district within the State of Florida. The FRS provides retirement and disability benefits, annual cost -of -living adjustments, and death benefits to plan members and beneficiaries. Benefits are established by Chapter 121, Florida Statutes, and Chapter 605, Florida Administrative Code. Amendments to the law can be made only by an act of the Florida State Legislature. D-24 MONROE COUNTY, FLORIDA-BOARD OF COUNTY COMMISSIONERS Notes To Financial Statements For the Year Ended September 30, 2016 NOTE 9 — FLORIDA RETIREMENT SYSTEM RETIREMENT PLANS (continued) The State of Florida annually issues a publicly available financial report that includes financial statements and required supplementary information for the FRS. The latest available report may be obtained by writing to the State of Florida Division of Retirement, Department of Management Services, P.O. Box 9000, Tallahassee, Florida 32315-9000, or from the Web site: www.dms.myflorida.com/workforce operati ons/retirement/publi cations. Pension Plan Plan Description — The Pension Plan is a cost -sharing multiple -employer defined benefit pension plan, with a Deferred Retirement Option Program (DROP) for eligible employees. Benefits Provided — Benefits under the Pension Plan are computed on the basis of age, average final compensation, and service credit. For Pension Plan members enrolled before July 1, 2011, Regular class members who retire at or after age 62 with at least six years of credited service or 30 years of service regardless of age are entitled to a retirement benefit payable monthly for life, equal to 1.6% of their final average compensation based on the five highest years of salary, for each year of credited service. Vested members with less than 30 years of service may retire before age 62 and receive reduced retirement benefits. Special Risk Administrative Support class members who retire at or after age 55 with at least six years of credited service or 25 years of service regardless of age are entitled to a retirement benefit payable monthly for life, equal to 1.6% of their final average compensation based on the five highest years of salary, for each year of credited service. Special Risk class members (sworn law enforcement officers, firefighters, and correctional officers) who retire at or after age 55 with at least six years of credited service, or with 25 years of service regardless of age, are entitled to a retirement benefit payable monthly for life, equal to 3.0% of their final average compensation based on the five highest years of salary for each year of credited service. Senior Management Service class members who retire at or after age 62 with at least six years of credited service or 30 years of service regardless of age are entitled to a retirement benefit payable monthly for life, equal to 2.0% of their final average compensation based on the five highest years of salary for each year of credited service. Elected Officers' class members who retire at or after age 62 with at least six years of credited service or 30 years of service regardless of age are entitled to a retirement benefit payable monthly for life, equal to 3.0% (3.33% for judges and justices) of their final average compensation based on the five highest years of salary for each year of credited service. For Plan members enrolled on or after July 1, 2011, the vesting requirement is extended to eight years of credited service for all these members and increasing normal retirement to age 65 or 33 years of service regardless of age for Regular, Senior Management Service, and Elected Officers' class members, and to age 60 or 30 years of service regardless of age for Special Risk and Special Risk Administrative Support class members. Also, the final average compensation for all these members will be based on the eight highest years of salary. D-25 MONROE COUNTY, FLORIDA-BOARD OF COUNTY COMMISSIONERS Notes To Financial Statements For the Year Ended September 30, 2016 NOTE 9 — FLORIDA RETIREMENT SYSTEM RETIREMENT PLANS (continued) As provided in Section 121.101, Florida Statutes, if the member is initially enrolled in the Pension Plan before July 1, 2011, and all service credit was accrued before July 1, 2011, the annual cost -of - living adjustment is three percent per year. If the member is initially enrolled before July 1, 2011, and has service credit on or after July 1, 2011, there is an individually calculated cost -of -living adjustment. The annual cost -of -living adjustment is a proportion of three percent determined by dividing the sum of the pre -July 2011 service credit by the total service credit at retirement multiplied by three percent. Plan members initially enrolled on or after July 1, 2011, will not have a cost -of - living adjustment after retirement. In addition to the above benefits, the DROP program allows eligible members to defer receipt of monthly retirement benefit payments while continuing employment with a FRS employer for a period not to exceed 60 months after electing to participate. Deferred monthly benefits are held in the FRS Trust Fund and accrue interest. There are no required contributions by DROP participants. Contributions — Effective July 1, 2011, all enrolled members of the FRS, other than DROP participants, are required to contribute three percent of their salary to the FRS. In addition to member contributions, governmental employers are required to make contributions to the FRS based on state-wide contribution rates established by the Florida Legislature. These rates are updated as of July 1 of each year. The employer contribution rates by job class for the periods from October 1, 2015 through June 30, 2016 and from July 1, 2016 through September 30, 2016, respectively, were as follows: Regular7.26% and 7.52%; Special Risk Administrative Support32.95% and 28.06%; Special Risk22.04% and 22.57%; Senior Management Service21.43% and 21.77%; Elected Officers'42.27% and 42.47%; and DROP participants— 12.88% and 12.99%. These employer contribution rates include 1.66% and 1.66% HIS Plan subsidy for the periods October 1, 2015 through June 30, 2016 and from July 1, 2016 through September 30, 2016, respectively. The Board's contributions, including employee contributions, to the Pension Plan totaled $2,810,259 for the fiscal year ended September 30, 2016. Pension Liabilities, Pension Expense, and Deferred Outflows of Resources and Deferred Inflows of Resources Related to Pensions — The Board's governmental funds, which utilize the current resources measurement basis of accounting, generally recognize pension expense as amounts are paid. Pension liabilities are recognized at the fund level only to the extent expected to be liquidated with expendable available financial resources. Amounts associated with long-term pension liabilities and related deferred outflows of resources and deferred inflows of resources are reported on the government -wide financial statements of the County, rather than the financial statements of the Board. D-26 MONROE COUNTY, FLORIDA-BOARD OF COUNTY COMMISSIONERS Notes To Financial Statements For the Year Ended September 30, 2016 NOTE 9 — FLORIDA RETIREMENT SYSTEM RETIREMENT PLANS (continued) The Board's enterprise and internal service funds recognize pension liabilities, pension expense and deferred outflows of resources and deferred inflows of resources related to pensions on the accrual basis of accounting. At September 30, 2016, the Board's enterprise and internal service funds reported a liability of $3,713,402 for their proportionate share of the Pension Plan's net pension liability. The net pension liability was measured as of June 30, 2016, and the total pension liability used to calculate the net pension liability was determined by an actuarial valuation as of July 1, 2016. The Board's proportionate share of the net pension liability was based on the Board's 2015-16 fiscal year contributions relative to the 2015-16 fiscal year contributions of all participating members. At June 30, 2016, the Board's proportionate share for all funds was .1075 percent, which was an increase of .0043 percent from its proportionate share measured as of June 30, 2015. Approximately 13.7% of the Board's proportionate share of the net pension liability was allocated to the enterprise and internal service funds of the Board based on their proportionate share of the Board's pension plan contributions. For the fiscal year ended September 30, 2016, the Board's enterprise and internal service funds recognized pension expense of $562,231. In addition, these activities reported deferred outflows of resources and deferred inflows of resources related to pensions from the following sources: FRS Pension Deferred Deferred Outflows of Inflows of Resources Resources Differences Between Expected and Actual Experience $ 285,762 $ 34,746 Changes of Assumptions 225,792 - Net Difference Between Projected and Actual Earnings on Pension Plan Investments 964,750 - Changes in Proportion and Differences Between Pension Plan Contributions and Proportionate Share of Contributions 70,515 77,772 Pension Plan Contributions Subsequent to the Measurement Date 111,102 - Total $ 1,657,921 $ 112,518 D-27 MONROE COUNTY, FLORIDA-BOARD OF COUNTY COMMISSIONERS Notes To Financial Statements For the Year Ended September 30, 2016 NOTE 9 — FLORIDA RETIREMENT SYSTEM RETIREMENT PLANS (continued) The Pension Plan's deferred outflows of resources related to the Board's enterprise and internal service funds contributions to the Plan subsequent to the measurement date, totaling $111,102 will be recognized as a reduction of the net pension liability in the fiscal year ended September 30, 2016. Other amounts reported as deferred outflows of resources and deferred inflows of resources related to the Pension Plan will be recognized in pension expense of the enterprise and internal service funds as follows: FRS Year ended June 30: Amount 2017 $ 197,568 2018 197,568 2019 571,792 2020 391,330 2021 57,560 Thereafter 18,483 Total $ 1,434,301 Actuarial Assumptions — The total pension liability in the June 30, 2016 actuarial valuation was determined using the following actuarial assumption, applied to all period included in the measurement: Inflation 2.60 % Salary increases 3.25%, average, including inflation Investment rate of return 7.60%, net of pension plan investment expense, including inflation Mortality rates were based on the Generational RP-2000 with Projection Scale BB tables. The actuarial assumptions used in the July 1, 2016, valuation were based on the results of an actuarial experience study for the period July 1, 2008 through June 30, 2013. The long-term expected rate of return was decreased from 7.65% to 7.60%, and the active member mortality assumption was updated. MONROE COUNTY, FLORIDA-BOARD OF COUNTY COMMISSIONERS Notes To Financial Statements For the Year Ended September 30, 2016 NOTE 9 — FLORIDA RETIREMENT SYSTEM RETIREMENT PLANS (continued) The long-term expected rate of return on Pension Plan investments was not based on historical returns, but instead is based on a forward -looking capital market economic model. The allocation policy's description of each asset class was used to map the target allocation to the asset classes shown below. Each asset class assumption is based on a consistent set of underlying assumptions and includes an adjustment for the inflation assumption. The target allocation and best estimates of arithmetic and geometric real rates of return for each major asset class are summarized in the following table: Asset Class Annual Target Arithmetic Allocation (1) Return Compound Annual (Geometric) Standard Return Deviation Cash 1% 3.0% 3.0% 1.7% Fixed Income 18% 4.7% 4.6% 4.6% Global Equity 53% 8.1% 6.8% 17.2% Real Estate (Property) 10% 6.4% 5.8% 12.0% Private Equity 6% 11.5% 7.8% 30.0% Strategic Investments 12% 6.1% 5.6% 11.1% Total 100% Assumed Inflation - Mean 2.6% 1.9% (1) As outlined in the Pension Plan's investment policy Discount Rate — The discount rate used to measure the total pension liability was 7.60%. The Pension Plan's fiduciary net position was projected to be available to make all projected future benefit payments of current active and inactive employees. Therefore, the discount rate for calculation of the total pension liability is equal to the long-term expected rate of return. Sensitivitv of the Board's Proportionate Share of the Net Position Liabilitv to Chances in the Discount Rate — The following represents the Board's enterprise and internal service funds proportionate share of the net pension liability calculated using the discount rate of 7.60%, as well as what the proportionate share of the net pension liability would be if it were calculated using a discount rate that is one percentage point lower (6.60%) or one percentage point higher (8.60%) than the current rate: FRS Net Pension Liability Current Discount 1% Decrease Rate 1% Increase (6.60%) (7.60%) (8.60%) Enterprise and Internal Service Funds Proportionate Share of the Net Pension Plan Liability $ 6,836,635 $ 3,713,402 $ 1,113,733 D-29 MONROE COUNTY, FLORIDA-BOARD OF COUNTY COMMISSIONERS Notes To Financial Statements For the Year Ended September 30, 2016 NOTE 9 — FLORIDA RETIREMENT SYSTEM RETIREMENT PLANS (continued) Pension Plan Fiduciary Net Position — Detailed information regarding the Pension Plan's fiduciary net position is available in the separately issued FRS Pension Plan and Other State -Administered Systems Comprehensive Annual Financial Report. HIS Plan Plan Description — The HIS Plan is a cost -sharing multiple -employer defined benefit pension plan established under Section 112.363, Florida Statutes, and may be amended by the Florida legislature at any time. The benefit is a monthly payment to assist retirees of State -administered retirement systems in paying their health insurance costs and is administered by the Florida Department of Management Services, Division of Retirement. Benefits Provided — For the fiscal year ended September 30, 2016, eligible retirees and beneficiaries received a monthly HIS payment of $5 for each year of creditable service completed at the time of retirement, with a minimum HIS payment of $30 and a maximum HIS payment of $150 per month. To be eligible to receive these benefits, a retiree under a State -administered retirement system must provide proof of health insurance coverage, which may include Medicare. Contributions — The HIS Plan is funded by required contributions from FRS participating employers as set by the Florida Legislature. Employer contributions are a percentage of gross compensation for all active FRS members. For the fiscal year ended September 30, 2016, the HIS contribution for the period October 1, 2015 through June 30, 2016 and from July 1, 2016 through September 30, 2016 was 1.66% and 1.66%, respectively. The Board contributed 100% of its statutorily required contributions for the current and preceding three years. HIS Plan contributions are deposited in a separate trust fund from which payments are authorized. HIS Plan benefits are not guaranteed and are subject to annual legislative appropriation. In the event legislative appropriation or available funds fail to provide full subsidy benefits to all participants, benefits may be reduced or cancelled. The Board's contributions to the HIS Plan totaled $512,120 for the fiscal year ended September 30, 2016. Pension Liabilities, Pension Expense, and Deferred Outflows of Resources and Deferred Inflows of Resources Related to Pensions — The basis of accounting and financial reporting of the Board's HIS Plan is identical to that of the Board's Pension Plan. At September 30, 2016, the Board's enterprise and internal service funds reported a liability of $1,707,854 for their proportionate share of the Board's HIS Plan's net pension liability. The net pension liability was measured as of June 30, 2016, and the total pension liability used to calculate the net pension liability was determined by an actuarial valuation as of July 1, 2016. The Board's proportionate share of the net pension liability was based on the Board's 2015-16 fiscal year contributions relative to the 2015-16 fiscal year contributions of all participating members. At June 30, 2016, the Board's proportionate share of all funds was .0953 percent, which was an increase of .0014 percent from its proportionate share measured as of June 30, 2015. Approximately 15.4% of the Board's proportionate share of the net pension liability was allocated to the enterprise and internal service funds of the Board based on their proportionate share of the Board's HIS Plan contributions. D-3 0 MONROE COUNTY, FLORIDA-BOARD OF COUNTY COMMISSIONERS Notes To Financial Statements For the Year Ended September 30, 2016 NOTE 9 — FLORIDA RETIREMENT SYSTEM RETIREMENT PLANS (continued) For the fiscal year ended September 30, 2016, the Board's enterprise and internal service funds recognized pension expense of $147,223. In addition, these activities reported deferred outflows of resources and deferred inflows of resources related to pensions from the following sources: Differences Between Expected and Actual Experience Changes of Assumptions Net Difference Between Projected and Actual Earnings on HIS Plan Investments Changes in Proportion and Differences Between HIS Plan Contributions and Proportionate Share of Contributions HIS Plan Contributions Subsequent to the Measurement Date Total HIS Pension Deferred Deferred Outflows of Inflows of Resources Resources $ - $ 4,008 276,147 - 890 - 32,903 - 21,354 - $ 331,294 $ 4,008 The deferred outflows of resources related to the HIS Plan resulting from the Board's enterprise and internal service funds contributions to the HIS Plan subsequent to the measurement date, totaling $21,354, will be recognized as a reduction of the net pension liability in the fiscal year ended September 30, 2016. Other amounts reported as deferred outflows of resources and deferred inflows of resources related to the HIS Plan will be recognized as pension expense in the enterprise and internal service funds as follows: HIS Year ended June 30: Amount 2017 $ 54,782 2018 54,782 2019 54,592 2020 54,501 2021 47,152 Thereafter 40,123 Total $ 305,932 D-31 MONROE COUNTY, FLORIDA-BOARD OF COUNTY COMMISSIONERS Notes To Financial Statements For the Year Ended September 30, 2016 NOTE 9 — FLORIDA RETIREMENT SYSTEM RETIREMENT PLANS (continued) Actuarial Assumptions — The total pension liability in the July 1, 2016, actuarial valuation was determined using the following actuarial assumptions, applied to all periods included in the measurement: Inflation 2.60 % Salary increases 3.25%, average, including inflation Municipal bond rate 2.85 % Mortality rates were based on the Generational RP-2000 with Projection Scale BB tables. The actuarial assumptions used in the July 1, 2016, valuation were based on the results of an actuarial experience study for the period July 1, 2008 through June 30, 2013. The municipal rate used to determine total pension liability was deceased from 3.80% to 2.85%. Discount Rate — The discount rate used to measure the total pension liability was 2.85%. In general, the discount rate for calculating the total pension liability is equal to the single rate equivalent to discounting at the long-term expected rate of return for benefit payments prior to the projected depletion date. Because the HIS benefit is essentially funded on a pay-as-you-go basis, the depletion date is considered to be immediate, and the single equivalent discount rate is equal to the municipal bond rate selected by the HIS Plan sponsor. The Bond Buyer General Obligation 20-Bond Municipal Bond Index was adopted as the applicable municipal bond index. Sensitivitv of the Board's Probortionate Share of the Net Position Liabilitv to Chances in the Discount Rate — The following represents the Board's enterprise and internal service funds proportionate share of the net pension liability calculated using the discount rate of 2.85%, as well as what the proportionate share of the net pension liability would be if it were calculated using a discount rate that is one percentage point lower (1.85%) or one percentage point higher (3.85%) than the current rate: HIS Net Pension Liability Current Discount 1 % Decrease Rate 1 % Increase (1.85%) (2.85%) (3.85%) Enterprise and Internal Service Funds Proportionate Share of the Net HIS Plan Liability $ 1,959,296 $ 1,707,854 $ 1,499,170 Pension Plan Fiduciary Net Position — Detailed information regarding the HIS Plan's fiduciary net position is available in the separately issued FRS Pension Plan and Other State -Administered Systems Comprehensive Annual Financial Report. D-32 MONROE COUNTY, FLORIDA-BOARD OF COUNTY COMMISSIONERS Notes To Financial Statements For the Year Ended September 30, 2016 NOTE 9 — FLORIDA RETIREMENT SYSTEM RETIREMENT PLANS (continued) Investment Plan The SBA administers the defined contribution plan officially titled the FRS Investment Plan. The Investment Plan is reported in the SBA's annual financial statements and in the State of Florida Comprehensive Annual Financial Report. As provided in Section 121.4501, Florida Statutes, eligible FRS members may elect to participate in the Investment Plan in lieu of the FRS defined benefit plan. County employees participating in DROP are not eligible to participate in the Investment Plan. Employer and employee contributions, including amounts contributed to individual member's accounts, are defined by law, but the ultimate benefit depends in part on the performance of investment funds. Benefit terms, including contribution requirements, for the Investment Plan are established and may be amended by the Florida Legislature. The Investment Plan is funded with the same employer and employee contribution rates that are based on salary and membership class (Regular Class, Elected County Officers, etc.), as the Pension Plan. Contributions are directed to individual member accounts, and the individual members allocate contributions and account balances among various approved investment choices. Costs of administering the Investment Plan, including the FRS Financial Guidance Program, are funded through an employer contribution of 0.04 and 0.06 percent of payroll and by forfeited benefits of plan members for the periods October 1, 2015 through June 30, 2016 and from July 1, 2016 through September 30, 2016, respectively. Allocations to the investment member's accounts during the 2015- 16 fiscal year, as established by Section 121.72, Florida Statutes, are based on a percentage of gross compensation, by class, as follows: Regular class 6.30%, Special Risk Administrative Support class 7.95%, Special Risk class 14.00%, Senior Management Service class 7.67% and County Elected Officers class 11.34%. For all membership classes, employees are immediately vested in their own contributions and are vested after one year of service for employer contributions and investment earnings. If an accumulated benefit obligation for service credit originally earned under the Pension Plan is transferred to the Investment Plan, the member must have the years of service required for Pension Plan vesting (including the service credit represented by the transferred funds) to be vested for these funds and the earnings on the funds. Nonvested employer contributions are placed in a suspense account for up to five years. If the employee returns to FRS -covered employment within the five-year period, the employee will regain control over their account. If the employee does not return within the five- year period, the employee will forfeit the accumulated account balance. For the fiscal year ended September 30, 2016, the information for the amount of forfeitures was unavailable from the SBA; however, management believes that these amounts, if any, would be immaterial to the Board. D-3 3 MONROE COUNTY, FLORIDA-BOARD OF COUNTY COMMISSIONERS Notes To Financial Statements For the Year Ended September 30, 2016 NOTE 9 — FLORIDA RETIREMENT SYSTEM RETIREMENT PLANS (continued) After termination and applying to receive benefits, the member may rollover vested funds to another qualified plan, structure a periodic payment under the Investment Plan, receive a lump -sum distribution, leave the funds invested for future distribution, or any combination of these options. Disability coverage is provided; the member may either transfer the account balance to the Pension Plan when approved for disability retirement to receive guaranteed lifetime monthly benefits under the Pension Plan, or remain in the Investment Plan and rely upon that account balance for retirement income. The Board's Investment Plan pension expense totaled $485,025 for the fiscal year ended September 30, 2016. NOTE 10 — PENSION PLAN FOR VOLUNTEER FIREFIGHTERS AND EMERGENCY MEDICAL SERVICES General Information about the Pension Plan Plan Description — The Monroe County, Florida Volunteer Firefighter and Emergency Medical Services Length of Service Award Plan (LOSAP) is a single -employer public employee retirement system defined benefit pension plan created in 1999 and administered by the Board. LOSAP provides retirement and death benefits to plan members and beneficiaries. Monroe County Ordinance 026-1999 defines the authority under which contribution and benefit provisions may be amended. This authority is presently held by the Board. LOSAP shall be administered in accordance with the requirements of Chapter 112, Part VII, Florida Statutes. Benefits Provided — Only Volunteer Firefighters and EMS Volunteers (Volunteers) are eligible at the sole discretion of the Plan Administrator. Any Volunteer who was age 60 or older on January 1, 1999 shall not be eligible to participate. In addition, any Volunteers who are age 60 or older at the time they commence volunteer service, or who commence service at a time that will not permit them to earn ten years of service by their Normal Retirement Age, shall not be eligible to participate in this Plan. Volunteer Firefighters must attain the rank of Structural Firefighter, Non -Structural Firefighter and or Emergency Vehicle Driver -Operator prior to being credited with ten years of service. EMS Volunteers must meet all requirements as defined by the State of Florida necessary to drive an emergency medical care and transportation vehicle (ambulance) and/or attain certification as an Emergency Medical Technician or Paramedic prior to being credited with ten years of service. Eligibility for vesting is completion of ten years of service. The Plan shall be administered in accordance with the requirements of Chapter 112, Part VU, Florida Statutes. D-34 MONROE COUNTY, FLORIDA-BOARD OF COUNTY COMMISSIONERS Notes To Financial Statements For the Year Ended September 30, 2016 NOTE 10 — PENSION PLAN FOR VOLUNTEER FIREFIGHTERS AND EMERGENCY MEDICAL SERVICES (continued) For each year of volunteer service, a participant will accrue a year of benefit accrual if the participant was enrolled as a member of the nonprofit corporation or municipal service taxing unit (MSTU) and was eligible for and received reimbursement of expenses for nine or more months of the year. Volunteers are vested after completion of ten years of service prior to attainment of normal retirement age. Eligible volunteers can receive an annual benefit of $1,800 for ten years of service up to $4,500 for 25 years of service. Employees Covered by Benefit Terms — LOSAP had 57 participants, of which 19 are active, 23 are inactive and 15 are retired members for the plan year ended December 31, 2016 and the County's fiscal year ending September 30, 2016. Separate, stand-alone financial statements for LOSAP are not provided. Contributions — Contributions and benefits are calculated based on years of service as the participants are unpaid volunteers. As a result, there are no related covered payroll and no UALL as a percentage of covered payroll. For each Plan Year, the Board shall appropriate funds from the budgets of the various fire/rescue MSTU's. These funds will be applied as a contribution to the LOSAP trust account in an amount as determined by the Plan Administrator as is necessary to fund the accrued or prospective benefits for Participants on an actuarially sound basis and in accordance with Part VII of Chapter 112, Florida Statutes. There are no participant contribution requirements. The authority under which those obligations are established is the Monroe County Ordinance No. 026-1999. Net Pension Liability The Board's net pension liability was measured as of January 1, 2016 and the total pension liability used to calculate the net pension liability was determined by an actuarial valuation as of that date. Actuarial Assumptions — The significant actuarial assumptions used to compute the pension benefit obligation in the January 1, 2016 valuation for the period of January 1, 2015 through December 31, 2015 were: 1. Investment Yield: 1.0% for both present and future 2. Mortality Pattern: Not applicable 3. Salary increases: Not applicable; Benefits not based on salary 4. Termination: Godwin's Table 1, V Select & Ultimate Table, with 50% termination probability for YOS<1 5. Inflation: No increase as benefits are based on a flat amount per year of service D-3 5 MONROE COUNTY, FLORIDA-BOARD OF COUNTY COMMISSIONERS Notes To Financial Statements For the Year Ended September 30, 2016 NOTE 10 — PENSION PLAN FOR VOLUNTEER FIREFIGHTERS AND EMERGENCY MEDICAL SERVICES (continued) The projection of cash flows used to determine the discount rate assumed that plan member contributions will be made at the applicable current contribution rates and that County contribution will be made at rates equal to the difference between actuarially determined contributions and member contributions. Based on those assumptions, the fiduciary net position for the LOSAP pension plans was projected to be available to make all projected future benefit payments of current plan members. Therefore, the long-term expected rate of return on LOSAP's investments was applied to all periods of projected benefit payments to determine the total pension liability for each plan. Summary of Significant Accounting Policies — The financial statements of LOSAP are prepared using the accrual basis of accounting. The contributions are recognized when due. Benefits are recognized when due and payable in accordance with the terms of LOSAP. Administrative costs are paid by the Board. Actuarial valuation costs are paid by LOSAP. All plan investments are reported at fair value. The resources in the LOSAP fund have been set aside to pay future obligations of the LOSAP but are not held in a trust that meets the criteria outlined in GASB Statement No. 67, paragraph 3 and GASB Statement No. 68, paragraph 4. Investments — Investments are pooled with all County investments and are held in accordance to the investment policy included in Note 1. All plan investments consist of U.S. Government and U.S. Government -guaranteed obligations which represent more than 5.0% of the net position available for benefits. There are no investments in, loans to or leases with any public employee retirement system official, government employer official, party related to a public employee retirement system official or government employer official, nonemployee contributor or organization included in the reporting entity. Discount Rate — The discount rate used to measure the total pension liability was 1.00% (no change from the prior measurement period). The projection of cash flows used to determine the discount rate assumed that employee contributions will be made at the current contribution rate and that the Board's contributions will be made at rates equal to the difference between actuarially determined contribution rates and the employee rate. Based on those assumptions, the pension plan's fiduciary net position was projected to be available to make all projected future benefit payments of current active and inactive employees. Therefore, the long-term expected rate of return on pension plan investments was applied to all periods of projected benefit payments to determine the total pension liability. D-3 6 MONROE COUNTY, FLORIDA-BOARD OF COUNTY COMMISSIONERS Notes To Financial Statements For the Year Ended September 30, 2016 NOTE 10 — PENSION PLAN FOR VOLUNTEER FIREFIGHTERS AND EMERGENCY MEDICAL SERVICES (continued) Changes in Total Pension Liability Balance at 111115 $ 887,336 Changes for the year: Service Cost 16,394 Interest 8,895 Differences Between Expected and Actual Experience 33,108 Benefit Payments, Including Refunds of Employee Contributions (28,365) Net Changes 30,032 Balance at 12/31/15 $ 917,368 Sensitivity of the Net Pension Liability to Changes in the Discount Rate — The following table presents the net pension liability (asset) of LOSAP, using the current discount rate, as well as what the Board's net pension liability would be if it were calculated using a discount rate that is 1-percentage point lower or 1-percentage point higher than the current rate. 1 % Current Decrease Discount Rate 1 % Increase (0.00%) (1.00%) (2.00%) Net Pension Liability (Asset) $ 980,305 $ 917,368 $ 813,032 Pension Expense and Deferred Outflows of Resources and Deferred Inflows of Resources Related to Pensions For the year ended September 30, 2016, the Board recognized pension expense of $28,365. At September 30, 2016, the Board reported deferred outflows of resources and deferred inflows of resources related to pensions from the following sources, which will be amortized in future periods on substantially a straight line basis: Deferred Outflows Deferred Inflows of Resources of Resources Net Difference Between Projected and Actual Earnings on Pension Plan Investments $ - $ 173 D-3 7 MONROE COUNTY, FLORIDA-BOARD OF COUNTY COMMISSIONERS Notes To Financial Statements For the Year Ended September 30, 2016 NOTE 11— CAPITAL AND OTHER SIGNIFICANT COMMITMENTS Construction projects and significant commitments, excluding encumbrances reported below, under present contractual agreements as of September 30, 2016 are as follows: Cudjoe Regional Wastewater $ 16,978,649 Bernstein Park 7,455,873 MCDC HVAC 1,470,943 Long Key Wastewater 1,261,643 Crawl Key Fire Training 883,889 Plantation Key Courthouse & Det. Center 854,063 Card Sound Bridge Repair 814,996 Lake Surprise 460,508 Higgs Beach -Atlantic Boulevard 245,744 ADA E. Martello 148,550 Marathon Library 140,574 KWIAP Customs 118,884 Cudjoe Fire Station 255,025 Jackson Sq Chiller 161,375 KWIAP Fence 142,319 Others (less than $100,000) 459,610 Total $ 31,852,645 The entire construction costs of the Cudjoe Regional Wastewater project are estimated at $196.53 million. There is an interlocal agreement between the County and the Florida Keys Aqueduct Authority (FKAA) for this project. The County obtained partial funding through grants, the issuance of revenue notes backed by the pledge of the infrastructure sales surtax, State of Florida clean water revolving loan and wastewater special assessments to provide funding to FKAA for the administration, planning and construction of wastewater projects. IM MONROE COUNTY, FLORIDA-BOARD OF COUNTY COMMISSIONERS Notes To Financial Statements For the Year Ended September 30, 2016 NOTE 11— CAPITAL AND OTHER SIGNIFICANT COMMITMENTS (continued) Significant encumbrance commitments at September 30, 2016 are as follows: Encumbrance Governmental Activities: General Fund $ 61,177 Road & Bridge Fund 359,635 Governmental Grants Fund 2,190,198 One Cent Infrastructure Surtax 3,248,698 Series 2014 Revenue Bonds 247,067 Nonmajor Governmental Funds 178,601 Total Governmental Activities 6,285,376 Business -Type Activities Municipal Service District Waste 10,220 Key West Airport 1,575,644 Marathon Airport 1,949,288 Passenger Facility Charge 561,753 Total Business -Type Activities 4,096,905 Total Encumbrances $ 10,382,281 NOTE 12 — LEASE OBLIGATIONS Rental expense under cancelable operating leases for the current year amounted to $1,252,287. D-3 9 MONROE COUNTY, FLORIDA-BOARD OF COUNTY COMMISSIONERS Notes To Financial Statements For the Year Ended September 30, 2016 NOTE 13 — LONG-TERM DEBT Long-term debt activity for the year ended September 30, 2016 is as follows: Current Portion of Long-term Beginning Balances Additions Payments Ending Balances Liabilities Governmental Activities: Revenue Bonds Payable $ 41,580,227 $ 16,065,000 $ 3,796,091 $ 53,849,136 $ 7,056,091 Revenue Notes Payable* 59,480,817 33,068,998 464,695 92,085,120 477,373 Line of Credit 16,000,000 - 16,000,000 - - Mayfield Agreement (KLWTD) 15,566,220 1,433,780 1,000,000 16,000,000 1,000,000 Accrued Comp. Absences 3,189,671 2,239,276 2,028,052 3,400,895 680,179 OPEB Liability 36,323,486 5,281,000 3,537,794 38,066,692 - Pension Liability -FRS 20,372,852 16,597,258 2,953,046 34,017,064 - PensionLiability -LOSAP 887,336 58,397 28,365 917,368 - Total GovemmentalActivities 193,400,609 74,743,709 29,808,043 238,336,275 9,213,643 Business -type Activities Landfill Closure Costs 173,965 1,566 - 175,531 - Accrued Comp. Absences 350,878 274,446 235,620 389,704 77,942 OPEB Liability 1,777,000 203,000 117,659 1,862,341 - Pension Liability 2,527,969 2,072,931 369,334 4,231,566 - Total Business -type Activities 4,829,812 2,551,943 722,613 6,659,142 77,942 Total Long- Tenn Debt $ 198,230,421 $ 77,295,652 $ 30,530,656 $ 244,995,417 $ 9,291,585 *Additions includes capitalized interest Amounts associated with the Board's governmental activities long-term liabilities are reported on the government -wide financial statements of the County rather than on the financial statements of the Board. Amounts associated with the Board's business -type activities and internal service funds long- term liabilities are reported on the proprietary fund financial statements of the Board. Internal service fund long-term debt information is included in the governmental activities on the government -wide financial statements, because the internal service funds predominately serve those activities. Governmental activities' compensated absences are liquidated by the funds to which the related employee services relate. IMI MONROE COUNTY, FLORIDA-BOARD OF COUNTY COMMISSIONERS Notes To Financial Statements For the Year Ended September 30, 2016 NOTE 13 — LONGTERM DEBT (continued) The Group Insurance Internal Service Fund assesses a monthly premium per employee in each fund. The monthly premiums paid by the various funds provide the resources necessary to liquidate the other postemployment benefit obligations paid in the current year by the Group Insurance Internal Service Fund. The current portion of the post closure maintenance liability is expected to be insignificant and will be funded by the County's operations budget instead of the related escrow funds required by federal and state laws. Accordingly, the entire post closure maintenance liability is classified as long-term. The following summary reflects the Board's bonds and notes as of September 30, 2016: Governmental Activities Revenue Bonds: Infrastructure Sales Surtax Revenue Bonds, Series 2007 Infrastructure Sales Surtax Revenue Bonds, Series 2014 Infrastructure Sales Surtax Refunding Revenue Bond, Series 2016 Unamortized Original Issue Premium, Series 2007 Total Revenue Bonds Revenue Notes: Clean Water State Revolving Fund Construction Loan Agreement 2010 Clean Water State Revolving Fund Construction Loan Agreement 2014 Total Revenue Notes Mayfield Agreement - Key Largo Wastewater Treatment District Total Governmental Debt D-41 $ 6,740,000 30,885,000 16,065,000 159,136 53,849,136 7,667,080 84,418,040 92,085,120 16,000,000 $161,934,256 MONROE COUNTY, FLORIDA-BOARD OF COUNTY COMMISSIONERS Notes To Financial Statements For the Year Ended September 30, 2016 NOTE 13 — LONGTERM DEBT (continued) Debt Service Funding Requirements — The total annual debt service requirements for bonds and notes outstanding at September 30, 2016 are as follows: Principal Governmental Activities Interest Total 2017 $ 8,533,464 $ 1,407,708 $ 9,941,172 2018 8,723,443 1,278,587 10,002,030 2019 7,078,777 1,005,483 8,084,260 2020 7,192,522 889,462 8,081,984 2021 7,311,642 770,809 8,082,451 2022-2026 36,413,865 2,003,873 38,417,738 2027-2031 2,262,503 124,098 2,386,601 Total Required Debt Service 77,516,216 $ 7,480,020 $ 84,996,236 2014 Clean Water State Revohing Fund Construction Loan Agreement* 84,418,040 Total Governmental Debt $ 161,934,256 *2014 CW 1T notes are still in the drawdrown process. Debt service is required to begin June 15, 2018. Long-term debt at September 30, 2016 is composed of the following issues: $29,415,000 Infrastructure Sales Surtax Revenue Bonds, Series 2007 • Type: General Government Revenue Bonds • Dated: November 2007 • Final maturity: Year 2018 • Principal payment date: April 1 • Interest payment dates: April 1 and October 1 • Interest rates: 4.0% to 5.0% • Amount outstanding at September 30th: $6,740,000 • Reserve requirement: None; MBIA insured. • Revenue pledged: All of the One Cent Local Government Infrastructure Sales Surtax accruing to Monroe County. The total principal and interest remaining to be paid is $7,249,250. For the fiscal year, principal and interest paid was $3,654,600 and total pledged revenue was $20, 817, 676. • Purpose: To construct and acquire equipment and capital improvements. • Call provisions: None D-42 MONROE COUNTY, FLORIDA-BOARD OF COUNTY COMMISSIONERS Notes To Financial Statements For the Year Ended September 30, 2016 NOTE 13 — LONGTERM DEBT (continued) $31,885,000 Florida Infrastructure Sales Surtax Improvement and Refunding Revenue Bonds, Series 2014 • Type: General Government Revenue Bonds • Dated: October 2014 • Final maturity: Year 2024 • Principal payment date: April 1 • Interest payment dates: April 1 and October 1 • Interest rate: 2.36% • Amount outstanding at September 30th: $30,885,000 • Reserve requirement: None; MBIA insured. • Revenue pledged: All of the One -Cent Local Government Infrastructure Sales Surtax accruing to Monroe County. The total principal and interest remaining to be paid is $34,254,018. For the fiscal year, principal and interest paid was $1,240,686 and total pledged revenue was $20, 817, 676. • Purpose: To construct and acquire equipment and capital improvements. • Call provisions: None $19,500,540 Clean Water State Revolving Fund Construction Loan Agreement • Type: General Government Revenue Notes • Dated: April 2010 • Final maturity: Year 2030 • Principal payment date: March 15 and September 15 • Interest payment dates: March 15 and September 15 • Interest rate: 2.71% • Amount outstanding at September 30th: $7,667,080 • Reserve requirement: None • Revenue pledged: Non -Ad Valorem Revenues in the General Fund, the Fine and Forfeiture Fund and the Unincorporated Area Service District Funds. The total principal and interest remaining to be paid is $9,205,989. For the fiscal year, principal and interest paid was $681,938 and total pledged revenue was $33,784,081. • Purpose: Refund temporary financing for wastewater capital improvements. • Call provisions: None D-43 MONROE COUNTY, FLORIDA-BOARD OF COUNTY COMMISSIONERS Notes To Financial Statements For the Year Ended September 30, 2016 NOTE 13 — LONGTERM DEBT (continued) Clean Water State Revolving Fund Construction Loan Agreement • The State awarded a total of $120,000,000 (original award plus four amendment awards) for collection, transmission and treatment facilities under the State Revolving Fund loan program. During the year ended September 30, 2016, loan draws of $31,147,188 were received and accumulated interest of $1,921,809 capitalized resulting in an outstanding loan balance as of September 30, 2016 of $84,418,040. • Interest rate: various interest rates (2.39% - 3.07%) as of September 30, 2016 • Final maturity and payment: Details to be determined upon completion of draw process. • Reserve requirement: None • Revenue pledged: One -Cent Local Government Infrastructure Sales Surtax and Cudj oe Regional Wastewater special assessments. For the fiscal year, there were no principal and interest payments made as the loan was still in the draw process and total pledged revenue was $22,470,294. • Purpose: Financing for wastewater capital improvements. • Call provisions: None $16,000,000 Line of Credit • Type: Line of Credit • Dated: October 2014 • Final maturity: Year 2024 • Principal payment date: April 1 • Interest payment dates: April 1 • Interest rate: 70% of One -Month LIBOR plus 0.51% (WSJ Prime plus 4% 1/1/2017 — 4/l/2024) • Amount outstanding at September 30th: $0 • Reserve requirement: None • Revenue pledged: One -Cent Local Government Infrastructure Sales Surtax. For the fiscal year, principal and interest paid was $16,135,736 and total pledged revenue was $20,817,676. • Purpose: Capital improvements with respect to Cudj oe Regional Wastewater Project • Call provisions: None • The balance of this line of credit was refinanced into the Infrastructure Sales Surtax Refunding Revenue Bond, Series 2016 $16,065,000 Infrastructure Sales Surtax Refunding Revenue Bond, Series 2016 • Type: General Government Refunding Revenue Bond • Dated: September 2016 • Final maturity: Year 2026 • Principal payment date: April 1 • Interest payment dates: April 1 and October 1 • Interest rate: 1.69% • Amount outstanding at September 30th: $16,065,000 IM" MONROE COUNTY, FLORIDA-BOARD OF COUNTY COMMISSIONERS Notes To Financial Statements For the Year Ended September 30, 2016 NOTE 13 — LONGTERM DEBT (continued) • Reserve requirement: None; MBIA insured. • Revenue pledged: All of the One Cent Local Government Infrastructure Sales Surtax accruing to Monroe County. The total principal and interest remaining to be paid is $18,127,844. For the fiscal year, bond issuance cost of $65,000 was paid and total pledged revenue was $20,817,676. • Purpose: To construct and acquire equipment and capital improvements. • Call provisions: None $17,000,000 Mayfield Interlocal Agreement • Type: Inter -local Agreement • Dated: May 2015 • Final maturity: Year 2026 • Principal payment date: April 1 • Interest payment dates: April 1 • Interest rate: N/A • Amount outstanding at September 30th: $16,000,000 • Reserve requirement: None • Revenue pledged: One -Cent Local Government Infrastructure Sales Surtax. The total principal remaining to be paid is $16,000,000. For the fiscal year, principal paid was $1,000,000 total pledged revenue was $20,817,676. • Purpose: Capital improvements with respect to Cudj oe Regional Wastewater Project • Call provisions: None • See Note 14 for additional information related to this agreement. Current Refunding of Debt The County issued $16,065,000 in Infrastructure Sales Surtax Improvement and Refunding Bonds, Series 2016 with an interest rate of 1.69% computed semi-annually (based on a 360-day year). The proceeds were used to refund the $16,000,000 Line of Credit (Infrastructure Sales Surtax Master Revenue Bond, Series 2014). The Line of Credit is considered extinguished and the liability has been removed from the statement of net position. The reacquisition price equaled the net carrying amount of the old debt. As a result, the County did not record a deferred charge in the statement of activities. The County refunded the line of credit to reduce its total debt service payments over ten years by $3,652,602 and to obtain an economic gain of $4, 047, 53 5 . D-45 MONROE COUNTY, FLORIDA-BOARD OF COUNTY COMMISSIONERS Notes To Financial Statements For the Year Ended September 30, 2016 NOTE 14 — INTERLOCAL AGREEMENT EXPENSE Administered by the Florida Department of Environmental Protection (DEP), the Mayfield Grant is the result of the State of Florida authorizing up to $200 million in grant funding to assist the Keys' wastewater entities to complete central sewer and related projects. In May 2015, Monroe County and Key Largo Wastewater Treatment District (KLWTD) entered into an "interlocal agreement" (ILA) whereby KLWTD "assigned" its Mayfield grant allocation funding to Monroe County in exchange for the County repaying those funds over a 10-year period. As a result of the signed ILA between Monroe County and KLWTD, Florida Department of Environmental Protection (DEP) sent Monroe County an amendment to the Mayfield Grant to add the $17 million reallocated funds to the grant agreement between DEP and Monroe County. The amendment: (1) provided the County an additional $17 million in Mayfield grant funding; (2) reallocated the project budget and; (3) extended the date of the completion of the project. The ILA created a transaction with two separate parts 1) a grant between DEP and Monroe County and 2) a long-term liability payable to KLWTD from Monroe County. For part one, Monroe County recorded grant revenue, which was a reimbursement for capital expenditures already incurred in the Cudjoe Regional Wastewater fund. For part two, the County recorded a long-term liability on the government -wide financial statements, which represents funding the County is obligated to pay KLWTD as a result of the ILA. The offset to this liability was an interlocal agreement expense which represents the value of Monroe County's "right" to receive the Mayfield Grant revenue forfeited by KLWTD. NOTE 15 — CONDUIT DEBT IDA Health Care Facilities Revenue Bonds, Series 2003 — The Monroe County Industrial Development Authority approved the issuance of IDA Health Care Facilities Revenue Bonds, Series 2003, not to exceed $2,500,000 and for a loan by the Authority to the Guidance Clinic of the Middle Keys, Inc. to provide for the refinancing of certain outstanding indebtedness of the corporation and for financing certain capital improvements to the corporation's health care facilities. Ownership of the acquired facilities is in the name of the private entity served by the bond issuance. Neither the County, the Authority, the State, nor any political subdivision thereof is obligated in any manner for the repayment of the bonds. Accordingly, the bonds are not reported as liabilities in the accompanying financial statements. Maturity of the Series 2003 Bonds is August 1, 2018. City of South Miami Health Facilities Authority Hospital Revenue Bonds, Series 2007 — On April 18, 2007, the Board approved an interlocal agreement with the City of South Miami Health Facilities Authority for the issuance of $800,000,000 of tax-free bonds for Mariner's Hospital (Baptist Health South) for the purpose of financing capital improvements to health care facilities and refund outstanding bonds. The facilities will be owned by the issuers of the bonds and the Board is not obligated in any way for the repayment of the bonds. Monroe County was part of a group consisting of the State of Florida and other units of local government that participated to establish the tax-free status of the bonds. MONROE COUNTY, FLORIDA-BOARD OF COUNTY COMMISSIONERS Notes To Financial Statements For the Year Ended September 30, 2016 NOTE 15 — CONDUIT DEBT (continued) Accordingly, the bonds are not reported as liabilities in the accompanying financial statements. Maturity of the Series 2007 Bonds is August 15, 2042. NOTE 16 — RECOGNITION OF CLOSURE AND POST CLOSURE COST As described in Note 1, current regulations of the U.S. Environmental Protection Agency (EPA) and the Florida Department of Environmental Protection (FDEP) require municipal solid waste landfills to place a final cover on closed landfill areas and to maintain those areas for up to 30 years after closure. The Board obtains updated and revised estimates of total future closure and post -closure costs from its engineers. All amounts recognized are based upon what it would cost to perform closure and post closure functions in current dollars. Actual costs may be different due to inflation, changes in technology or changes in laws and regulations. Recognition of the liability for closure and post closure costs is based on the landfill capacity used to date. The landfill capacity of the Board's previously operated landfills, which include Cudjoe Key, Long Key, and Key Largo are 100% used and have no remaining landfill life. Closure of these landfills was substantially completed during the year ended September 30, 1994. During the prior year, the County requested and FDEP agreed to early release of all long term care requirements for the Key Largo and Long Key landfills. The Board also has a landfill site at Cudjoe Key, which has never been used nor does the County presently intend to use. Accordingly, no future closure cost is accruable except for post closure costs estimated to be incurred in the coming year for Cudjoe Key. At September 30, 2016, the estimated future cost for post closure maintenance was $175,531. The cumulative effect of updated and revised estimates of closure -related costs is recognized in the period of the change to the extent it relates to current and past operations. The Florida Department of Environmental Protection approved a post -closure operating plan, which permits the Board to fund closure and post -closure costs as an operating expense using annual appropriations. Since the current portion of the post -closure maintenance liability is expected to be insignificant and will be funded by the County's operations budget, the entire post closure maintenance liability is classified as long-term. The landfill is required by state and federal laws and regulations to make annual contributions to a cash escrow account to meet financial assurance requirements. During the year, additional funding of $13,050 and investment earnings of $2,628 were added to the escrow account. In accordance with laws and regulations, the landfill had cash and investments of $1,766,307 held for these purposes at September 30, 2016. In the event closure escrows and interest earnings prove inadequate due to inflation, changes in technology or additional post closure care requirements, these costs may need to be covered by charges to service users. D-47 MONROE COUNTY, FLORIDA-BOARD OF COUNTY COMMISSIONERS Notes To Financial Statements For the Year Ended September 30, 2016 NOTE 17 — INTERFUND BALANCES The Board pools cash resources of its various funds to facilitate the management of cash. Cash applicable to a particular fund is readily identifiable. The balance in the pooled cash accounts is available to meet current operating requirements. Negative balances incurred in pooled cash at year-end are treated as interfund receivables of the receiving funds and interfund payables of the deficit funds as presented below: Receivable Fund General Fund Governmental Grants One Cent Infrastructure Surtax Big Coppitt Wastewater Project Payable Fund Fine and Forfeiture Nonmajor Governmental General Fund Fine and Forfeiture Cudjoe Regional Wastewater Project Cudjoe Regional Wastewater Project Big Coppitt Wastewater Project Card Sound Bridge Internal Service Funds Nonmajor Governmental Marathon Airport Key West Airport Nonmajor Governmental PFC & Oper Restrictions PFC & Oper Restrictions Cudj oe Regional Wastewater Project Big Coppitt Wastewater Project Amount $ 5,640,354 3,167,004 55,733 3,668,413 12,649 2,213,552 246,212 417,183 3,535,787 17,390 175,611 2,646 43,166 MONROE COUNTY, FLORIDA-BOARD OF COUNTY COMMISSIONERS Notes To Financial Statements For the Year Ended September 30, 2016 NOTE 18 — INTERFUND TRANSFERS Interfund transfers at September 30, 2016 are as follows: Transfers to General Fund from: One Cent Infrastructure Surtax Fund $ 178,428 Fine & Forfeiture Fund 16,667 Card Sound Bridge Fund 149,693 Municipal Service District -Waste 263,190 Internal Service Funds 579,520 Marathon Airport 50,153 Key West Airport 331,280 Nonmajor Governmental Funds 3,925,148 Total 5,494,079 Transfers to Fine & Forfeiture Fund from: One Cent Infrastructure Surtax Fund 2,755,000 Transfers to Governmental Grants Fund from: General Fund 269,954 Card Sound Bridge Fund 364,810 Nonmajor GovemmentalFunds 324,233 Total 958,997 Transfers to One Cent Infrastructure Surtax Fund from: Big Coppit Wastewater Project 2,000,000 Governmental Grants Fund 50,000 Nonmajor Governmental Funds 2,500,000 Total 4,550,000 Transfers to Cudjoe Regional Wastewater Project Fund from: Nonmajor Governmental Funds 6 Transfers to Debt Service Fund from: One Cent Infrastructure Surtax Fund 5,895,286 Big Coppitt Wastewater Project Fund 681,938 Total 6,577,224 Transfers to Nonmajor Governmental Funds from: General Fund 1,471 One Cent Infrastructure Fund 7,600,000 Nonmajor Governmental Funds 645,347 Total 8,246,818 Transfers to Marathon Airport Fund from: PFC & Oper Restrictions 17,390 Transfers to Key West Airport Fund from: PFC & Oper Restrictions 198,970 Total Interfimd Transfers $ 28,798,484 IMG MONROE COUNTY, FLORIDA-BOARD OF COUNTY COMMISSIONERS Notes To Financial Statements For the Year Ended September 30, 2016 NOTE 18 — INTERFUND TRANSFERS (continued) The One Cent Infrastructure Surtax Fund, a major fund, transferred $5,895,286 to the Debt Service Fund to repay long-term debt. Similarly, the Big Coppitt Wastewater Project transferred $681,938 to the Debt Service Fund for repayment of debt for this project. The One Cent Infrastructure Surtax Fund also transferred $2,500,000 to the Fine and Forfeiture Fund for the purchase of the Trauma Star helicopter, $1,400,000 to the Long Key Wastewater Project to fund the start-up of this project and $6,000,000 to the Land Acquisition Fund. Transfers to the Government Grants Fund of $958,997 represent funds needed to meet match requirements. The Employee Fair Share Housing Fund transferred $571,364 to the Building Fund for the development of affordable housing. The General Fund transferred $1,471 to the Special Miscellaneous Revenue fund to support the Legal Scholarship Program. The Passenger Facilities Charges (PFC) Fund transferred PFC receipts to the Marathon Airport Fund in the amount of $17,390 and to the Key West International Airport in the amount of $198,970 to fund approved projects by the Federal Aviation Administration (FAA). Among the FAA -approved projects were evaluating and installing noise mitigation measures, strengthening airfield security, relocating runway threshold lights, and rehabilitating the custom facilities. The remaining transfers are related to supporting the County's operations. D-50 MONROE COUNTY, FLORIDA-BOARD OF COUNTY COMMISSIONERS Notes To Financial Statements For the Year Ended September 30, 2016 NOTE 19 — GOVERNMENTAL FUND BALANCE CLASSIFICATIONS Fund Balances are presented in the following categories; nonspendable, restricted, committed, assigned and unassigned (see Note 1 for a description of these categories). A detailed schedule of governmental fund balances at September 30, 2016 is presented below: One Cent Fund Balances: Nonspendable: Inventory $ 3,728- Total Nonspendable 3,728 - - Restricted for: Law Enforcement - 16,760,058 - - Fire & Ambulance - - - - Public Safety - - - - Physical Environment - - - - Transportation - - - - Housing Programs - - - - Tourist Development - - - - Human Services - - - - Libraries - - - - Library Donations - - - - Cultural & Recreation - - - - Court Programs - - - - Comprehensive Planning - - - - Federal & State Grants - - 1,619,760 - Wastewater Projects - - - - Other Purposes - - - - Debt Service - - - - CapitalProjects - - - 23,609,776 Total Restricted - 16,760,058 1,619,760 23,609,776 Committed to: Disaster Recovery 10,000,000 - - - Physical Environment - - Wastewater Projects - - Beach Renourishment - - Total Committed 10,000,000 - - Assigned to: Other Purposes 61,177 - - - Fire & Ambulance - - - - Subsequent Year's Expenditures 12,718,217 - - - TotalAssigned 12,779,394 - - - Unassigned: 15,490,123 - - - Total Fund Balances $ 38,273,245 $ 16,760,058 $ 1,619,760 $ 23,609,776 D-51 MONROE COUNTY, FLORIDA-BOARD OF COUNTY COMMISSIONERS Notes To Financial Statements For the Year Ended September 30, 2016 NOTE 19 — GOVERNMENTAL FUND BALANCE CLASSIFICATIONS (continued) Big Coppitt Cudjoe Regional Nonmajor Total Wastewater Wastewater All Debt Service Governmental Governmental Project Project Funds Funds Funds - - - 3,728 - - - L,U33,133 L,U33,133 - - - 61555,985 6,555,985 - - - 3,342,506 3,342,506 - - - 14,353,890 14,353,890 - - - 1,536,312 1,536,312 - - - 31,299,397 31,299,397 - - - 965,988 965,988 - - - 1,082,082 1,082,082 - - - 298,523 298,523 - - - 1,590,591 1,590,591 - - - 51015,104 5,015,104 - - - 51508,470 5,508,470 - - - - 1,619,760 345,455 23,345,841 - 9,478,499 33,169,795 - - - 691,668 691,668 - - 2,565,479 - 2,565,479 - - - 7,315,861 30,925,637 345,455 23,345,841 2,565,479 94,223,445 162,469,814 - - - - 10,000,000 - - - 1,638,208 1,638,208 - - - 373,597 373,597 - - - 211,254 211,254 - - - 2,223,059 12,223,059 - - - - 61177 - - 51276,737 18,056,131 - - 15,490,123 $ 345,455 $ 23,345,841 $ 2,565,479 $ 101,723,241 $ 208,242,855 D-52 MONROE COUNTY, FLORIDA-BOARD OF COUNTY COMMISSIONERS Notes To Financial Statements For the Year Ended September 30, 2016 NOTE 20 — RISK MANAGEMENT The Board is exposed to various risks of loss related to tort; theft of, damage to, and destruction of assets; errors and omissions; injuries to employees; and natural disasters. During the fiscal years ended 1976, 1984 and 1988, the Board established the Workers' Compensation, Group Insurance, and Risk Management Funds, respectively, as internal service funds to account for and finance its uninsured risks of loss. Under these programs, the Workers' Compensation has self -insured coverage up to the first $500,000 per claim for regular employees. Workers' Compensation claims in excess of the self -insured coverage of $500,000 are covered by an excess insurance policy. The Group Insurance Fund provides self -insured excess claims. Risk Management has a $5,000,000 excess insurance policy for general liability claims with a $200,000 self -insured retention, and building property damage is covered for the actual value of the building with a deductible of $50,000. Deductibles for windstorm and flood vary by location. The Board purchases commercial insurance for claims in excess of coverage provided by the funds and for all other risks of loss. Settled claims have not exceeded this commercial coverage in any of the past three years. All funds of the Board participate in the programs and make payments to the Workers' Compensation, Group Insurance and Risk Management Funds based on management's estimates of the amounts needed to pay prior and current year claims. The claims liabilities reported are based on the requirements of Governmental Accounting Standards Board Statement No. 10, which requires that a liability for claims be reported if information prior to the issuance of the financial statements indicates that it is probable that a liability has been incurred at the date of the financial statements and the amount of the loss can be reasonably estimated. These claim liabilities have not been discounted. Changes in the claims liability amounts in fiscal years 2016 and 2015 were: Unpaid Claims at Sept. 30, 2014 Incurred Claims (Including IBNRs) Claim Payments Worker's Comp. Group Insurance Risk Mgmt Total $ 1,210,936 $ 1,043,765 $ 193,455 $ 2,448,156 2,832,938 14,498,018 246,244 17,577,200 (3,125,920) (14,614,585) (250,354) (17,990,859) Unpaid Claims at Sept. 30, 2015 917,954 927,198 189,345 2,034,497 Incurred Claims (IncludinglBNRs) 1,991,437 16,899,485 226,680 19,117,602 Claim Payments (2,484,282) (16,798,211) (169,245) (19,451,738) Unpaid Claims at Sept. 30, 2016 $ 425,109 $ 1,028,472 $ 246,780 $ 1,700,361 D-53 MONROE COUNTY, FLORIDA-BOARD OF COUNTY COMMISSIONERS Notes To Financial Statements For the Year Ended September 30, 2016 NOTE 21— LITIGATION AND CLAIMS The Board is a defendant in various lawsuits and is involved in other disputes wherein substantial amounts are claimed. The Board vigorously defends itself with respect to these matters. The Board's practice is to provide for these claims when a loss is probable and a loss becomes fixed or determinable in amount. As a result of regulations adopted to protect the environment and manage growth, the Board is involved in a handful of lawsuits. Most claims have been defeated to date, but two merit mention. In both of these cases, the County and State of Florida are co-defendants and any amounts awarded are expected to be apportioned between the parties. In one regulatory takings claim, the trial court found the County and the State of Florida to be liable. While the County expects to overturn the liability finding upon appeal, a valuation of the property was necessary in order to ripen the appeal. By stipulation, the parties agreed that the property at the time of the taking was valued at $175,000. After calculating pre judgment interest due on that value, the Court entered a final judgment in the amount of $347,476 as of December 31, 2016 jointly and severally against the County and the State of Florida. Under the final judgment, post judgment interest will accrue at approximately $22.77 per day depending on annual adjustments to the statutory interest rate until that judgment is either satisfied or vacated. An award of attorney fees and costs would be in addition to the amounts in the judgment. It is reasonably estimated that, if the final judgment survives appeal, the trial court would enter an award of fees and costs for approximately $250,000 though the Plaintiffs attorney has not disclosed the amount of his claim at this juncture. In March 2017, the County and State appealed this final judgment; resolution of that appeal is not expected prior to the end of FYI 7. The Board has not recorded any liability for this claim in their financial statements due to the expectation that the liability finding and thus the final judgment will be overturned upon appeal. In the second regulatory takings claim, the liability has been judicially determined against the County and State of Florida. In 2016, a jury valued the property at $285,500 as of the date of taking. After calculating pre judgment interest due on that value, the Court entered a final judgment in the amount of $480,512 as of June 1, 2016 jointly and severally against the County and the State of Florida. Under the final judgment, post judgment interest will accrue at approximately $64.64 per day depending on annual adjustment to the statutory interest rate until that judgment is either satisfied or vacated. An award of attorney fees and costs would be in addition to the amounts in the judgment. It is reasonably estimated that, if the final judgment survives appeal, the trial court would enter an award of fees and costs for approximately $1 million though the Plaintiff s attorney has not disclosed the amount of his claim at this juncture. The property owner has appealed the final judgment; the County and the State have cross appealed the underlying liability ruling. Resolution of the appeal is expected prior to the end of calendar year 2017. The Board has not recorded any liability for this claim in its financial statements due to the expectation that the liability finding and thus the final judgment will be overturned upon appeal. Nevertheless, in an abundance of caution, the estimate of $200,000 is reflected in the government -wide financial statements of the County. D-54 MONROE COUNTY, FLORIDA-BOARD OF COUNTY COMMISSIONERS Notes To Financial Statements For the Year Ended September 30, 2016 NOTE 21— LITIGATION AND CLAIMS (continued) In the opinion of the Board, it is reasonably possible that there are other open suits and claims that could result in judgments or settlements, which, in aggregate, would have a material adverse effect on the Board's financial condition. Based on the uncertainty at this stage of the proceedings, an estimate of the amount or a range of potential losses cannot be determined. NOTE 22 — COMMITMENTS AND CONTINGENCIES Grant Programs — The Board participates in a number of federal and state grant programs that are governed by various rules and regulations of the grantor agencies. Amounts received or receivable from grant agencies are subject to financial and compliance audits by the grantors or their representatives. Any disallowed claims, including amounts already collected, may constitute a liability of the applicable funds. The amount, if any, which may be disallowed by the grantor, cannot be determined at this time, although the Board expects such amounts, if any, to be immaterial. Impact Fee Refunds — Unexpended or unencumbered funds arising from the collection of impact fees may be refunded within one year following the end of the sixth year from the date on which the impact fee was paid or within three months of the non -commencement of construction. NOTE 23 — RESTATEMENT Effective October 1, 2015, the County adopted the provisions of GASB Statement 73, Accounting and Financial Reporting for Pensions and Related Assets that are not within the scope of GASB Statement 68. The implementation of this statement required the County to reclassify the Volunteer Firefighter and Emergency Medical Services Length of Service Award Pension Plan to the General Fund. As the provisions of Statement No. 73 were effective October 1, 2015, the General Fund balance as of that date has been adjusted as follows: Fund balance — September 30, 2015, previously reported $ 36,004,187 Restatement 865,891 Fund balance — September 30, 2015, restated 36.870.078 NOTE 24 — SUBSEQUENT EVENTS Management has evaluated subsequent events through March 31, 2017, in connection with the preparation of these financial statements, which is the date the financial statements were available to be issued. D-55 MONROE COUNTY, FLORIDA-BOARD OF COUNTY COMMISSIONERS SCHEDULE OF THE BOARD'S PROPORTIONATE SHARE OF NET PENSION LIABILITY FLORIDA RETIREMENT SYSTEM LAST TEN FISCAL YEARS" 2016 2015 2014 Board's proportion of the net pension liability 0.107471975% 0.103158114% 0.104891393% Board's proportionate share of the net pension liability $ 27,136,758 $ 13,324,254 $ 6,399,917 Board's covered -employee payroll $ 25,607,688 $ 29,097,726 $ 28,100,964 Board's proportionate share of the net pension liability as a percentage of its covered -employee payroll 105.97% 45.79% 22.77% Plan fiduciary net position as a percentage of the total pension liability 84.88% 92.00% 96.09% * The amounts presented for each fiscal year were determined as of June 30. No data is available for the previous seven years. E-1 MONROE COUNTY, FLORIDA-BOARD OF COUNTY COMMISSIONERS SCHEDULE OF THE BOARD'S CONTRIBUTIONS FLORIDA RETIREMENT SYSTEM LAST TEN FISCAL YEARS* 2016 2015 2014 Contractually required contribution $ 2,620,875 $ 2,515,082 2,297,567 Contributions in relation to the contractually required contribution Contribution deficiency (excess) Board's covered -employee payroll Contributions as a percentage of covered -employee payroll (2,620,875) (2,515,082) (2,297,567) $ 25,607,688 $ 29,097,726 $ 28,100,694 10.23% 8.64% 8.18% * The amounts presented for each fiscal year were determined as of September 30. No data is available for the previous seven years. E-2 MONROE COUNTY, FLORIDA-BOARD OF COUNTY COMMISSIONERS SCHEDULE OF THE BOARD'S PROPORTIONATE SHARE OF NET PENSION LIABILITY HEALTH INSURANCE SUBSIDY PROGRAM LAST TEN FISCAL YEARS* 2016 Board's proportion of the net pension liability 0.095343347% Board's proportionate share of the net pension liability $ 11,111,872 Board's covered -employee payroll $ 25,607,688 Board's proportionate share of the net pension liability as a percentage of its covered -employee payroll 43.39% Plan fiduciary net position as a percentage of the total pension liability 0.97% * The amounts presented for each fiscal year were determined as of June 30. No data is available for the previous seven years. 2015 0.093902398% $ 9,576,567 $ 29,097,726 32.91 % 0.50% El 0.093727524% $ 8,763,852 $ 28,100,964 31.19% 0.99% E-3 MONROE COUNTY, FLORIDA-BOARD OF COUNTY COMMISSIONERS SCHEDULE OF THE BOARD'S CONTRIBUTIONS HEALTH INSURANCE SUBSIDY PROGRAM LAST TEN FISCAL YEARS* 2016 2015 2014 Contractually required contribution $ 488,695 $ 358,953 $ 321,079 Contributions in relation to the contractually required contribution Contribution deficiency (excess) Board's covered -employee payroll Contributions as a percentage of covered -employee payroll (488,695) (358,953) (321,079) $ 25,607,688 $ 29,097,726 $ 28,100,964 1.91 % 1.23% 1.14% * The amounts presented for each fiscal year were determined as of September 30. No data is available for the previous seven years. E-4 MONROE COUNTY, FLORIDA-BOARD OF COUNTY COMMISSIONERS SCHEDULES OF REQUIRED SUPPLEMENTARY INFORMATION SCHEDULES OF CHANGES IN THE BOARD'S TOTAL PENSION LIABILITY AND RELATED RATIOS PENSION PLAN FOR VOLUNTEER FIREFIGHTERS AND EMERGENCY MEDICAL SERVICES LAST TEN FISCAL YEARS* (Dollar amounts in thousands) Total pension liability Service cost Interest Differences between expected and actual experience Benefit payments, including refunds of employee contributions Net change in total pension liability Total pension liability -beginning Total pension liability -ending Covered -employee payroll County's total position liability as a percentage of covered -employee payroll Notes to Schedule: 2016 2015 2014 $ 16,394 $ 16,455 $ 18,434 8,895 8,054 12,219 33,108 89,397 (9,696) (28,365) (30,855) (25,575) 30,032 83,051 (4,618) 887,336 804,285 808,903 $ 917,368 $ 887,336 $ 804,285 N/A N/A N/A N/A N/A N/A *This schedule is presented to illustrate the requirement to show information for 10 years. However, until a full 10-year trend is compiled, governments should present information for those years for which information is available. There are no assets accumulated in a trust, as defined by Statement of Governmental Accounting Standards No. 73, to pay benefits. E-5 MONROE COUNTY, FLORIDA-BOARD OF COUNTY COMMISSIONERS REQUIRED SUPPLEMENTARY INFORMATION YEAR ENDED SEPTEMBER 30, 2016 TEN YEAR SCHEDULE OF EMPLOYER CONTRIBUTIONS PENSION PLAN FOR VOLUNTEER FIREFIGHTERS AND EMERGENCY MEDICAL SERVICES Year Ending December 31, 2015 2014 2013 2012 2011 Actuarially determined contribution $ 30,304 $ 28,575 $ 36,788 $ 28,145 $ 30,379 Contributions in relation to the actuarially determined contribution 30,304 28,575 36,788 28,145 30,379 Contribution deficiency (excess) $ - $ - $ - $ - $ - Covered employee payroll $ - $ - $ - $ - $ - Contributions as a percentage of covered employee payroll N/A N/A N/A N/A N/A Notes to Schedule Valuation Date: Actuarially determined contribution rates are calculated as of January 1, which is nine months prior to the end of the fiscal year in which contributions are reported. Methods and Assumptions used to determine contribution rates: Inflation - No increase as benefits are based on a flat amount per year of service Salary Increases - N/A Investment rate of return - 1.0% net of investment expenses, including inflation Retirement age - N/A Mortality - N/A E-6 2010 2009 2008 2007 2006 $ 28,914 $ 30,791 $ 28,477 $ 24,233 $ 19,233 28,914 30,791 28,477 24,233 19,233 N/A N/A N/A N/A N/A E-7 MONROE COUNTY, FLORIDA-BOARD OF COUNTY COMMISSIONERS SCHEDULE OF REVENUES, EXPENDITURES, AND CHANGES IN FUND BALANCES - BUDGET AND ACTUAL ONE CENT INFRASTRUCTURE SURTAX CAPITAL PROJECT FUND FOR THE YEAR ENDED SEPTEMBER 30, 2016 REVENUES: Taxes Investment Income Miscellaneous Total Revenues EXPENDITURES: Current: Capital Outlay: General Government Public Safety Public Safety Capital Projects Physical Environment Transportation: Const. Mgmt. Culture and Recreation Total Capital Outlay Expenditures Excess/Deficiency of Revenues Over (Under) Expenditures Other Financing Sources (Uses): Reserve for Contingencies Reserve for Cash Balance Transfers from Other Funds Transfers to Other Funds Total Other Financing Sources (Uses) Net Change in Fund Balances Fund Balances, October 1 Fund Balances, September 30 Variance with Final Budget Original Final Positive Budget Budget Actual (Negative) $ 20,000,000 $ 20,000,000 $ 20,817,676 $ 817,676 50,000 50,000 99,757 49,757 - - 3,912 3,912 20,050,000 20,050,000 20,921,345 871,345 6,411,033 6,348,694 3,810,043 2,538,651 1,636,124 5,627,208 2,589,045 3,038,163 5,450,872 4,308,037 3,583,258 724,779 7,079,604 3,277,252 2,337,294 939,958 4,659,664 2,844,000 82,053 2,761,947 25,237,297 22,405,191 12,401,693 10,003,498 (5,187,297) (2,355,191) 8,519,652 10,874,843 (890,068) (5,637,665) - 5,637,665 (1,893,337) (1,122,487) - 1,122,487 2,500,000 6,546,282 4,550,000 (1,996,282) (13,504,528) (16,306,169) (16,428,714) (122,545) (13,787,933) (16,520,039) (11,878,714) 4,641,325 (18,975,230) 18,975,230 (18,875,230) 18,875,230 (3,359,062) 26,968,838 15,516,168 8,093,608 $ 23,609,776 $ 23,609,776 F-1 MONROE COUNTY, FLORIDA-BOARD OF COUNTY COMMISSIONERS SCHEDULE OF REVENUES, EXPENDITURES, AND CHANGES IN FUND BALANCES - BUDGET AND ACTUAL BIG COPPITT WASTEWATER CAPITAL PROJECT FUND FOR THE YEAR ENDED SEPTEMBER 30, 2016 REVENUES: Licenses and Permits Investment Income Miscellaneous Income Total Revenues EXPENDITURES: Current: Capital Outlay: Physical Environment: Big Coppitt Refunds Big Coppitt Special Assessment Total Physical Environment Total Capital Outlay Expenditures Excess/Deficiency of Revenues Over (Under) Expenditures Variance with Final Budget Original Final Positive Budget Budget Actual (Negative) $ 475,000 $ 475,000 $ 325,648 $ (149,352) 10,000 10,000 90,118 80,118 - - 34,263 34,263 485,000 485,000 450,029 (34,971) 5,000 5,000 - 5,000 68,500 68,500 32,665 35,835 73,500 73,500 32,665 40,835 73,500 73,500 32,665 40,835 411,500 411,500 417,364 5,864 Other Financing Sources (Uses): Transfers from Constitutional Officers - - 964 964 Transfers to Other Funds (682,000) (2,682,000) (2,681,938) 62 Total Other Financing Sources (Uses) (682,000) (2,682,000) (2,680,974) 1,026 Net Change in Fund Balances (270,500) (2,270,500) (2,263,610) 6,890 Fund Balances, October 1 270,500 2,270,500 2,609,065 338,565 Fund Balances, September 30 $ - $ - $ 345,455 $ 345,455 F-2 MONROE COUNTY, FLORIDA-BOARD OF COUNTY COMMISSIONERS SCHEDULE OF REVENUES, EXPENDITURES, AND CHANGES IN FUND BALANCES - BUDGET AND ACTUAL CUDJOE REGIONAL WASTEWATER CAPITAL PROJECT FUND FOR THE YEAR ENDED SEPTEMBER 30, 2016 REVENUES: Licenses and Permits Intergovernmental Investment Income Miscellaneous Total Revenues EXPENDITURES: Current: Transportation: Cudjoe Regional X-Paving Total Transportation Capital Outlay: Physical Environment: Cudjoe Regional Wastewater Project Grant Funding Loan Funding Special Assessment Refunds Special Assessments Total Physical Environment Variance with Final Budget Original Final Positive Budget Budget Actual (Negative) $ 2,275,400 $ 2,275,400 $ 13,207,840 $ 10,932,440 - 125,082 1,558,862 1,433,780 - - 832,799 832,799 - - 128,766 128,766 2,275,400 2,400,482 15,728,267 13,327,785 3,000,000 3,000,000 - 3,000,000 3,000,000 3,000,000 - 3,000,000 125,082 250,164 125,082 125,082 5,021,843 36,091,470 41,419,271 (5,327,801) 25,000 25,000 - 25,000 397,522 397,522 133,565 263,957 5,569,447 36,764,156 41,677,918 (4,913,762) Total Capital Outlay Expenditures 8,569,447 39,764,156 41,677,918 (1,913,762) Excess/Deficiency of Revenues Over (Under) Expenditures Other Financing Sources (Uses): Reserve for Cash Balance Issuance of Debt Transfers from Other Funds Transfers to Other Funds Transfers to/from Consititutional Officers Total Other Financing Sources (Uses) Net Change in Fund Balances (6,294,047) (37,363,674) (25,949,651) 11,414,023 (10,444,649) (10,444,649) - 10,444,649 3,016,492 3,016,492 31,147,188 28,130,696 19,725,082 53,794,709 6 (53,794,703) (9,000,000) (9,000,000) - 9,000,000 - - 3,075 3,075 3,296,925 37,366,552 31,150,269 (6,216,283) (2,997,122) 2,878 5,200,618 5,197,740 Fund Balances, October 1 (2,878) (2,878) 18,145,223 18,148,101 Fund Balances, September 30 $ (3,000,000) $ - $ 23,345,841 $ 23,345,841 F-3 MONROE COUNTY, FLORIDA-BOARD OF COUNTY COMMISSIONERS SCHEDULE OF REVENUES, EXPENDITURES, AND CHANGES IN FUND BALANCES - BUDGET AND ACTUAL ALL DEBT SERVICE FUNDS FOR THE YEAR ENDED SEPTEMBER 30, 2016 Variance with Final Budget Original Final Positive Budget Budget Actual (Negative) REVENUES: Investment Income $ 5,100 $ 5,100 $ 15,780 $ 10,680 Total Revenues 5,100 5,100 15,780 10,680 EXPENDITURES: Current: Debt Service: 2007 Revenue Bonds Principal 3,190,000 3,190,000 3,190,000 - Interest 400,800 464,600 464,600 - Other Debt Service Costs 300 300 300 - Total 2007 Revenue Bonds 3,591,100 3,654,900 3,654,900 - Clean Water SRF Loan Principal 464,695 464,695 464,694 1 Interest 217,305 217,305 217,244 61 Total Clean Water SRF Loan 682,000 682,000 681,938 62 2014 Revenue Bonds Principal 500,000 500,000 500,000 - Interest 735,000 740,686 740,686 - Total 2014 Revenue Bonds 1,235,000 1,240,686 1,240,686 - PNC Line of Credit Principal - 16,000,000 16,000,000 - Other Debt Service Costs 100,000 - - - Interest - 160,905 135,736 25,169 Total PNC Line of Credit 100,000 16,160,905 16,135,736 25,169 Mayfield Loan Principal - 1,000,000 1,000,000 - Total Mayfield Loan - 1,000,000 1,000,000 - 2016 Revenue Bonds Other Debt Service Costs - 65,000 65,000 - Total 2016 Revenue Bonds - 65,000 65,000 - (Continued) F-4 MONROE COUNTY, FLORIDA-BOARD OF COUNTY COMMISSIONERS SCHEDULE OF REVENUES, EXPENDITURES, AND CHANGES IN FUND BALANCES - BUDGET AND ACTUAL (CONTINUED) ALL DEBT SERVICE FUNDS FOR THE YEAR ENDED SEPTEMBER 30, 2016 Total Expenditures Excess/Deficiency of Revenues Over (Under) Expenditures Other Financing Sources (Uses): Reserve for Contingencies Reserve for Cash Balance Transfers from Other Funds Refunding Bonds Issued Total Other Financing Sources (Uses) Net Change in Fund Balances Fund Balances, October 1 Fund Balances, September 30 Variance with Final Budget Original Final Positive Budget Budget Actual (Negative) 5,608,100 22,803,491 22,778,260 25,231 (5,603,000) (22,798,391) (22,762,480) 35,911 (700,000) (580,514) - 580,514 (990,936) (990,936) - 990,936 5,608,100 6,619,005 6,577,224 (41,781) - 16,065,000 16,065,000 - 3,917,164 21,112,555 22,642,224 1,529,669 (1,685,836) (1,685,836) (120,256) 1,565,580 1,685,836 1,685,836 2,685,735 999,899 $ - $ - $ 2,565,479 $ 2,565,479 F-5 MONROE COUNTY, FLORIDA-BOARD OF COUNTY COMMISSIONERS COMBINING BALANCE SHEET NONMAJOR GOVERNMENTAL FUNDS SEPTEMBER 30, 2016 SPECIAL Tourist Tourist Affordable Development Development Tourist Housing All Districts Admin & Promo Development Programs Two Cent Two Cent District One ASSETS Cash and Cash Equivalents $ 62,168 $ 910,654 $ 1,801,784 $ 1,873,330 Investments 327,342 4,288,049 5,544,525 7,455,424 Accounts Receivable, Net - - 157 - Assessments Receivable - - - - Due from Other Funds - - - - Due from Other Governmental Units - - - - Due from Constitutional Officers - 777,028 1,588,096 1,321,916 Mortgages/Notes Receivable - - - - Allowance for Mortgages/Notes Receivable - - - - Advances to Other Governments - - - - Interest Receivable 760 9,522 14,756 12,931 Total Assets $ 390,270 $ 5,985,253 $ 8,949,318 $ 10,663,601 LIABILITIES AND FUND BALANCES Liabilities: Accounts Payable $ - $ 243,892 $ 360,922 $ 357,167 Retainage Payable - - - 2,209 Accrued Wages and Benefits Payable - - - - Due to Other Funds - - - - Due to Other Governmental Units - - - 122,688 Due to Constitutional Officers - - - - Other Current Liabilities - - 1,103 - Deposits in Escrow - - - - Total Liabilities - 243,892 362,025 482,064 Deferred Inflows of Resources: Advances from Other Governments - - - - Unavailable Revenues - - - - Total Deferred Inflows of Resources - - - - Fund Balances: Nonspendable - - - - Restricted 390,270 5,741,361 8,587,293 9,970,283 Committed - - - 211,254 Assigned - - - - Unassigned - - - - Total Fund Balances 390,270 5,741,361 8,587,293 10,181,537 Total Liabilities, Deferred Inflows of Resources and Fund Balances $ 390,270 $ 5,985,253 $ 8,949,318 $ 10,663,601 G-1 REVENUE FUNDS Tourist Tourist Tourist Tourist Impact Fees, Development Development Development Development Impact Fees, Parks, and District Two District Three District Four District Five Roadways Recreation $ 154,383 $ 560,945 $ 361,137 $ 371,283 $ 231,489 $ 102,347 637,500 1,893,586 1,108,113 1,376,217 1,441,138 533,550 120,984 384,653 260,502 273,569 - - 1,168 2,960 2,327 2,274 5,947 1,075 $ 914,035 $ 2,842,144 $ 1,732,079 $ 2,023,343 $ 1,678, 574 $ 636,972 $ 63,495 $ 159,436 $ 146,431 $ 125,356 $ 1 $ 13,355 - 11,413 - - - - - - - - 306,640 - 222 18 4,766 4 - - 63,717 170,867 151,197 125,360 306,641 13,355 850,318 2,671,277 1,580,882 1,897,983 1,371,933 623,617 850,318 2,671,277 1,580,882 1,897,983 1,371,933 623,617 $ 914,035 $ 2,842,144 $ 1,732,079 $ 2,023,343 $ 1,678, 574 $ 636,972 (Continued) G-2 MONROE COUNTY, FLORIDA-BOARD OF COUNTY COMMISSIONERS COMBINING BALANCE SHEET (CONTINUED) NONMAJOR GOVERNMENTAL FUNDS SEPTEMBER 30, 2016 SPECIAL Impact Fees, Impact Fees, Impact Fees, Impact Fees, Libraries Solid Waste Police Facilities Fire & EMS ASSETS Cash and Cash Equivalents $ 172,299 $ 14,360 $ 16,723 $ 13,261 Investments 903,445 74,600 85,683 68,166 Accounts Receivable, Net 1,839 - - - Assessments Receivable - - - - Due from Other Funds - - - - Due from Other Governmental Units 2,527 - - - Due from Constitutional Officers - - - - Mortgages/Notes Receivable - - - - Allowance for Mortgages/Notes Receivable - - - - Advances to Other Governments - - - - Interest Receivable 1,972 146 124 120 Total Assets $ 1,082,082 $ 89,106 $ 102,530 $ 81,547 LIABILITIES AND FUND BALANCES Liabilities: Accounts Payable $ - $ - $ - $ Retainage Payable - - - Accrued Wages and Benefits Payable - - - Due to Other Funds - - - Due to Other Governmental Units - - - Due to Constitutional Officers - - - Other Current Liabilities - - - Deposits in Escrow - - - Total Liabilities - - - Deferred Inflows of Resources: Advances from Other Governments - - - - Unavailable Revenues - - - - Deferred Inflows of Resources - - - - Fund Balances: Nonspendable - - - - Restricted 1,082,082 89,106 102,530 81,547 Committed - - - - Assigned - - - - Unassigned - - - - Total Fund Balances 1,082,082 89,106 102,530 81,547 Total Liabilities, Deferred Inflows of Resources and Fund Balances $ 1,082,082 $ 89,106 $ 102,530 $ 81,547 G-3 REVENUE FUNDS Impact Fees, Fire & Amb Upper Keys Unincorp. Unincorp. Employee District #1, Health Care Area Service Area Service Fair Share Lower and Special District, Dist., Planning Municipal Housing Middle Keys Taxing District Parks & Rec. Bldg. & Zoning Policing $ 3,893 $ 963,039 $ 120,707 $ 144,202 $ 1,369,052 $ 419,473 20,496 6,772,981 742,442 1,097,750 9,789,960 1,603,731 - 6,712 - 40 304 - - 9,180 - - 249,901 - - 202,291 - 24,351 8,710 386,012 672 13,942 1,838 2,236 17,507 3,508 $ 25,061 $ 7,968,145 $ 864,987 $ 1,268,579 $ 11,435,434 $ 2,412,724 $ - $ 247,539 $ 12,809 $ 38,225 $ 72,413 $ - - 2,440,181 - 247,155 904,607 - - 3,688 - 10,453 34,415 - - - - 5,772 143,003 - - 2,691,408 12,809 301,605 1,154,438 - 25,061 - 852,178 966,974 10,280,996 2,412,724 - 5,276,737 - - - - 25,061 5,276,737 852,178 966,974 10,280,996 2,412,724 $ 25,061 $ 7,968,145 $ 864,987 $ 1,268,579 $ 11,435,434 $ 2,412,724 (Continued) G-4 MONROE COUNTY, FLORIDA-BOARD OF COUNTY COMMISSIONERS COMBINING BALANCE SHEET (CONTINUED) NONMAJOR GOVERNMENTAL FUNDS SEPTEMBER 30, 2016 SPECIAL 911 Duck Key Local Enhancement Security Housing Boating Fees District Assistance Improvement ASSETS Cash and Cash Equivalents $ 28,000 $ 57,979 $ 193,748 $ 340,906 Investments 13,529 361,785 1,020,670 2,125,296 Accounts Receivable, Net - - - - Assessments Receivable - - - - Due from Other Funds - - - - Due from Other Governmental Units - - - - Due from Constitutional Officers - - - 70,081 Mortgages/Notes Receivable - - 8,476,848 - Allowance for Mortgages/Notes Receivable - - (8,476,848) - Advances to Other Governments - - - - Interest Receivable 1 801 2,600 4,908 Total Assets $ 41,530 $ 420,565 $ 1,217,018 $ 2,541,191 LIABILITIES AND FUND BALANCES Liabilities: Accounts Payable $ - $ 5,414 $ 72,544 $ 5,601 Retainage Payable - - - - Accrued Wages and Benefits Payable - - - - Due to Other Funds - - - - Due to Other Governmental Units - - 23,493 - Due to Constitutional Officers 41,336 - - - Other Current Liabilities - - - - Deposits in Escrow - - - - Total Liabilities 41,336 5,414 96,037 5,601 Deferred Inflows of Resources: Advances from Other Governments Unavailable Revenues Deferred Inflows of Resources Fund Balances: Nonspendable - - - - Restricted 194 415,151 1,120,981 2,535,590 Committed - - - - Assigned - - - - Unassigned - - - - Total Fund Balances 194 415,151 1,120,981 2,535,590 Total Liabilities, Deferred Inflows of Resources and Fund Balances $ 41,530 $ 420,565 $ 1,217,018 $ 2,541,191 G-5 REVENUE FUNDS Miscellaneous Law Court Drug Marathon Special Environmental Enforcement Facility Abuse Municipal Revenue Restoration Trust Fees Trust Service $ 495,415 $ 257,339 $ 98,656 $ 533,252 $ 19,363 $ 294 2,293,322 1,385,180 519,461 2,651,943 98,121 1,552 50,590 - 20,724 40,522 2,337 2 5,038 3,381 1,148 5,237 269 5 $ 2,844,365 $ 1,645,900 $ 639,989 $ 3,230,954 $ 120,090 $ 1,853 $ 14,738 $ 7,692 $ - $ 9,244 $ 6,280 $ - 8,192 - - - - - 31,168 - - - - - 54,098 7,692 - 9,244 6,280 - 2,790,267 - 639,989 3,221,710 113,810 1,853 - 1,638,208 - - - 2,790,267 1,638,208 639,989 3,221,710 113,810 1,853 $ 2,844,365 $ 1,645,900 $ 639,989 $ 3,230,954 $ 120,090 $ 1,853 (Continued) G-6 MONROE COUNTY, FLORIDA-BOARD OF COUNTY COMMISSIONERS COMBINING BALANCE SHEET (CONTINUED) NONMAJOR GOVERNMENTAL FUNDS SEPTEMBER 30, 2016 SPECIAL Bay Point Big Coppitt Key Largo Wastewater Wastewater Wastewater Stock Island MSTU MSTU MSTU Wastewater ASSETS Cash and Cash Equivalents $ 7,316 $ 119 $ 1,052 $ 106,990 Investments 38,761 885 5,538 565,639 Accounts Receivable, Net - - - - Assessments Receivable - - - 257,239 Due from Other Funds - - - 564 Due from Other Governmental Units - - - - Due from Constitutional Officers - - 2 513 Mortgages/Notes Receivable - - - - Allowance for Mortgages/Notes Receivable - - - - Advances to Other Governments - - - - Interest Receivable 98 2 14 1,268 Total Assets $ 46,175 $ 1,006 $ 6,606 $ 932,213 LIABILITIES AND FUND BALANCES Liabilities: Accounts Payable $ - $ - $ - $ 615 Retainage Payable - - - - Accrued Wages and Benefits Payable - - - - Due to Other Funds - 401 - - Due to Other Governmental Units - - - - Due to Constitutional Officers - - - - Other Current Liabilities - - - - Deposits in Escrow - - - - Total Liabilities - 401 - 615 Deferred Inflows of Resources: Advances from Other Governments - - - - Unavailable Revenues - - - 255,562 Deferred Inflows of Resources - - - 255,562 Fund Balances: Nonspendable - - - - Restricted - - - 676,036 Committed 46,175 605 6,606 - Assigned - - - - Unassigned - - - - Total Fund Balances 46,175 605 6,606 676,036 Total Liabilities, Deferred Inflows of Resources and Fund Balances $ 46,175 $ 1,006 $ 6,606 $ 932,213 G-7 REVENUE FUNDS Cudjoe- Long Key, Sugarloaf Conch Key Layton Duck Key Building Road and MSTU MSTU MSTU MSTU Fund Bridge $ 462 $ 76 $ 40,821 $ 9,925 $ 536,121 $ 1,866,341 - 402 216,680 52,262 3,963,360 10,884,046 - - - - 120 105 - - - - - 348,680 - - 198 126 6,098 22,473 $ 462 $ 478 $ 257,699 $ 62,313 $ 4,505,699 $ 13,121,645 $ 462 $ - $ 279 $ - $ 145,591 $ 92,329 - - - - 287,698 - - - - - 35,132 47,133 - - - - - 226 - - - - 8,110 - 462 - 279 - 476,531 139,688 - - - - 4,029,168 12, 981, 957 - 478 257,420 62,313 - - - 478 257,420 62,313 4,029,168 12,981,957 $ 462 $ 478 $ 257,699 $ 62,313 $ 4,505,699 $ 13,121,645 (Continued) G-8 MONROE COUNTY, FLORIDA-BOARD OF COUNTY COMMISSIONERS COMBINING BALANCE SHEET (CONTINUED) NONMAJOR GOVERNMENTAL FUNDS SEPTEMBER 30, 2016 ASSETS Cash and Cash Equivalents Investments Accounts Receivable, Net Assessments Receivable Due from Other Funds Due from Other Governmental Units Due from Constitutional Officers Mortgages/Notes Receivable Allowance for Mortgages/Notes Receivable Advances to Other Governments Interest Receivable Total Assets LIABILITIES AND FUND BALANCES Liabilities: Accounts Payable Retainage Payable Accrued Wages and Benefits Payable Due to Other Funds Due to Other Governmental Units Due to Constitutional Officers Other Current Liabilities Deposits in Escrow Total Liabilities Deferred Inflows of Resources: Advances from Other Governments Unavailable Revenues Deferred Inflows of Resources Fund Balances: Nonspendable Restricted Committed Assigned Unassigned Total Fund Balances Total Liabilities, Deferred Inflows of Resources and Fund Balances CAPITAL Total Nonmajor Clerk's Infrastructure Special Rev Revenue Revenue Bonds Funds Note Series 2007 $ 14,260,704 $ 24,007 $ 1,386,732 71,963,130 80,454 - 9,277 - - 257,239 - - 564 - - 610,288 - - 5,532,883 - - 8,476,848 - - (8,476,848) - - 149,450 196 - $ 92,783,535 $ 104,657 $ 1,386,732 $ 2,201,830 $ - $ 2,500 13,622 - - 4,186,682 - 173,028 290,204 - - 72, 504 - 1,329 - 156,885 - - 6,923,056 - 175,528 255,562 - 255,562 - - 78,105,121 104,657 1,211,204 2,223,059 - - 5,276,737 - - 85,604,917 104,657 1,211,204 $ 92,783,535 $ 104,657 $ 1,386,732 G-9 PROJECT FUNDS Total Duck Key Infrastructure Long Key Land Nonmajor Wastewater Revenue Bonds Wastewater Acquisition Governmental Project Series 2014 Project Fund Funds $ 283,885 $ 7,746,489 $ 47,810 $ 6,000,000 $ 29,749,627 2,098,689 - 252,381 - 74, 394, 654 - - - - 9,277 591,360 - - - 848,599 45,248 - - - 45,812 - - 1,161,643 - 1,771,931 574 - - - 5,533,457 - - - - 8,476,848 - - - - (8,476,848) 4,713 - 203 - 154,562 $ 3,024,469 $ 7,746,489 $ 1,462,037 $ 6,000,000 $ 112,507,919 $ 1,178 $ 355,598 $ - $ - $ 2,561,106 - 148,989 - - 162,611 2,343,081 - - - 6,702,791 - - - - 290,204 - - - - 72,504 - - - - 1,329 - - - - 156,885 2,344,259 504,587 - - 9,947,430 581,686 - - - 837,248 581,686 - - - 837,248 98,524 - - 7,241,902 1,462,037 6,000,000 94,223,445 - - - 2,223,059 - - - 5,276,737 98,524 7,241,902 1,462,037 6,000,000 101,723,241 $ 3,024,469 $ 7,746,489 $ 1,462,037 $ 6,000,000 $ 112,507,919 G-10 MONROE COUNTY, FLORIDA-BOARD OF COUNTY COMMISSIONERS COMBINING STATEMENT OF REVENUES, EXPENDITURES, AND CHANGES IN FUND BALANCES NONMAJOR GOVERNMENTAL FUNDS FOR THE YEAR ENDED SEPTEMBER 30, 2016 Revenues: Taxes Licenses and Permits Intergovernmental Charges for Services Fines and Forfeitures Investment Income Miscellaneous Total Revenues Expenditures: Current: General Government Public Safety Physical Environment Transportation Economic Environment Human Services Culture and Recreation Court Related Capital Projects Total Expenditures Excess/Deficiency of Revenues Over (Under) Expenditures Other Financing Sources (Uses): Transfers from Other Funds Transfers to Other Funds Transfers from Constitutional Officers Total Other Financing Sources (Uses) Net Change in Fund Balances Fund Balances -October 1 Fund Balances -September 30 SPECIAL Tourist Tourist Affordable Development Development Tourist Housing All Districts Admin & Promo Development Programs Two Cent Two Cent District One $ - $ 5,962,063 $ 12,354,567 $ 10,251,807 1,533 20,504 26,465 34,685 1,533 5,982,567 12,381,032 10,286,492 - 6,143,942 12,993,162 8,480,184 - 6,143,942 12,993,162 8,480,184 1,533 (161,375) (612,130) 1,806,308 - (58,182) (39,610) (59,799) - 102,699 190,753 162,507 - 44,517 151,143 102,708 1,533 (116,858) (460,987) 1,909,016 388,737 5,858,219 9,048,280 8,272,521 $ 390,270 $ 5,741,361 $ 8,587,293 $ 10,181,537 G-11 REVENUE FUNDS Tourist Development District Two $ 986,794 $ 3,104 989,898 Tourist Development District Three 2,913,297 $ 8,861 2,922,158 Tourist Development District Four 1,949,297 $ 5,132 1,954,429 Tourist Development Impact Fees, District Five Roadways 2,215,435 $ - $ - 126,494 61578 91546 - 36,555 _ 2,222,013 172,595 Impact Fees, Parks, and Recreation 67,940 2,487 70,427 - - - - 92,270 - 981,586 2,097,528 1,566,162 1,833,670 - - - - - - - 13,355 981,586 2,097,528 1,566,162 1,833,670 92,270 13,355 8,312 824,630 388,267 388,343 80,325 57,072 (23,290) (16,356) (12,023) (37,424) (73,983) - 15,515 46,340 30,827 34,762 - - (7,775) 29,984 18,804 (2,662) (73,983) - 537 854,614 407,071 385,681 6,342 57,072 849,781 1,816,663 1,173,811 1,512,302 1,365,591 566,545 $ 850,318 $ 2,671,277 $ 1,580,882 $ 1,897,983 $ 1,371,933 $ 623,617 (Continued) G-12 MONROE COUNTY, FLORIDA-BOARD OF COUNTY COMMISSIONERS COMBINING STATEMENT OF REVENUES, EXPENDITURES, AND CHANGES IN FUND BALANCES (CONTINUED) NONMAJOR GOVERNMENTAL FUNDS FOR THE YEAR ENDED SEPTEMBER 30, 2016 Revenues: Taxes Licenses and Permits Intergovernmental Charges for Services Fines and Forfeitures Investment Income Miscellaneous Total Revenues Expenditures: Current: General Government Public Safety Physical Environment Transportation Economic Environment Human Services Culture and Recreation Court Related Capital Projects Total Expenditures Excess/Deficiency of Revenues Over (Under) Expenditures Other Financing Sources (Uses): Transfers from Other Funds Transfers to Other Funds Transfers from Constitutional Officers Total Other Financing Sources (Uses) Net Change in Fund Balances Fund Balances -October 1 Fund Balances -September 30 SPECIAL Impact Fees, Impact Fees, Impact Fees, Impact Fees, Libraries Solid Waste Police Facilities Fire and EMS 43,788 7,993 29,467 12,756 4,195 344 397 312 47,983 8,337 29,864 13,068 47,983 8,337 29,864 13,068 47,983 8,337 29,864 13,068 1,034,099 80,769 72,666 68,479 $ 1,082,082 $ 89,106 $ 102,530 $ 81,547 G-13 REVENUE FUNDS Impact Fees, Fire & Amb Upper Keys Unincorp. Unincorp. Employee District #1, Health Care Area Service Area Service Fair Share Lower and Special District, Dist., Planning Municipal Housing Middle Keys Taxing District Parks & Rec. Bldg. & Zoning Policing $ - $ 9,992,794 $ - $ 1,605,035 $ 646,077 $ 4,029,349 24,245 - - - - - - 137,203 - 5,674 3,335,657 - - 578,811 - 64,775 2,605,329 3,498,473 - - - - 1,101,595 - 816 35,409 3,481 5,839 43,203 10,933 - 37,037 89,303 56,768 1,618 - 25,061 10,781,254 92,784 1,738,091 7,733,479 7,538,755 - 498,163 - - 2,401,690 201,060 - 10,582,788 - - 2,452,556 7,668,106 - - - - 642,126 - - - 15,391 - - - - - - 1,675,373 - - - 11,080,951 15,391 1,675,373 5,496,372 7,869,166 25,061 (299,697) 77,393 62,718 2,237,107 (330,411) (571,364) (908,519) (18,641) (162,768) (1,560,680) (11,514) - 202,119 - 24,188 8,310 385,651 (571,364) (706,400) (18,641) (138,580) (1,552,370) 374,137 (546,303) (1,006,097) 58,752 (75,862) 684,737 43,726 571,364 6,282,834 793,426 1,042,836 9,596,259 2,368,998 $ 25,061 $ 5,276,737 $ 852,178 $ 966,974 $ 10,280,996 $ 2,412,724 (Continued) G-14 MONROE COUNTY, FLORIDA-BOARD OF COUNTY COMMISSIONERS COMBINING STATEMENT OF REVENUES, EXPENDITURES, AND CHANGES IN FUND BALANCES (CONTINUED) NONMAJOR GOVERNMENTAL FUNDS FOR THE YEAR ENDED SEPTEMBER 30, 2016 Revenues: Taxes Licenses and Permits Intergovernmental Charges for Services Fines and Forfeitures Investment Income Miscellaneous Total Revenues Expenditures: Current: General Government Public Safety Physical Environment Transportation Economic Environment Human Services Culture and Recreation Court Related Capital Projects Total Expenditures Excess/Deficiency of Revenues Over (Under) Expenditures Other Financing Sources (Uses): Transfers from Other Funds Transfers to Other Funds Transfers from Constitutional Officers Total Other Financing Sources (Uses) Net Change in Fund Balances Fund Balances -October 1 Fund Balances -September 30 SPECIAL 911 Duck Key Local Enhancement Security Housing Boating Fees District Assistance Improvement - 75,858 - - - - 384,392 - 458,175 - - 770,986 295 1,704 5,104 9,435 - - 115,210 5,202 458,470 77,562 504,706 785,623 - 1,000 - - 454,977 66,817 - - - - - 487,785 - - 602,629 - 454,977 67,817 602,629 487,785 3,493 9,745 (97,923) 297,838 (94,654) - - - (94,654) 3,493 9,745 (97,923) 203,184 (3,299) 405,406 1,218,904 2,332,406 $ 194 $ 415,151 $ 1,120,981 $ 2,535,590 G-15 REVENUE FUNDS Miscellaneous Special Revenue Law Environmental Enforcement Restoration Trust Court Facility Fees Drug Marathon Abuse Municipal Trust Service $ - $ - $ - $ - $ - $ 2 128,434 - - - - - 406,369 - - 460,105 28,206 - 220,466 533,013 - - - - 10,867 7,249 2,391 12,450 508 7 184,537 - - - - - 950,673 540,262 2,391 472,555 28,714 9 4,471 - - - - - 326,933 - 51,248 - - - - 872,982 - - - - 28,668 - - - 55,889 - 9,227 - - - - - 222,830 - - 180,136 - - 592,129 872,982 51,248 180,136 55,889 - 358,544 (332,720) (48,857) 292,419 (27,175) 9 1,471 - - - - - - (24,862) - - (2,043) - - - 20,722 - - - 1,471 (24,862) 20,722 - (2,043) - 360,015 (357,582) (28,135) 292,419 (29,218) 9 2,430,252 1,995,790 668,124 2,929,291 143,028 1,844 $ 2,790,267 $ 1,638,208 $ 639,989 $ 3,221,710 $ 113,810 $ 1,853 (Continued) G-16 MONROE COUNTY, FLORIDA-BOARD OF COUNTY COMMISSIONERS COMBINING STATEMENT OF REVENUES, EXPENDITURES, AND CHANGES IN FUND BALANCES (CONTINUED) NONMAJOR GOVERNMENTAL FUNDS FOR THE YEAR ENDED SEPTEMBER 30, 2016 Revenues: Taxes Licenses and Permits Intergovernmental Charges for Services Fines and Forfeitures Investment Income Miscellaneous Total Revenues Expenditures: Current: General Government Public Safety Physical Environment Transportation Economic Environment Human Services Culture and Recreation Court Related Capital Projects Total Expenditures Excess/Deficiency of Revenues Over (Under) Expenditures Other Financing Sources (Uses): Transfers from Other Funds Transfers to Other Funds Transfers from Constitutional Officers Total Other Financing Sources (Uses) Net Change in Fund Balances Fund Balances -October 1 Fund Balances -September 30 SPECIAL Bay Point Big Coppitt Key Largo Wastewater Wastewater Wastewater Stock Island MSTU MSTU MSTU Wastewater $ - $ 13 $ 2 $ - - - - 26,494 183 5 24 13,317 - - - 3,575 183 18 26 43,386 - - - 1,000 733 838 - 19,039 733 838 - 20,039 550) (820) 26 23,347 - - - 513 - - - 513 (550) (820) 26 23,860 46,725 1,425 6,580 652,176 $ 46,175 $ 605 $ 6,606 $ 676,036 G-17 REVENUE FUNDS Cudjoe- Long Key, Sugarloaf Conch Key Layton Duck Key Building Road and MSTU MSTU MSTU MSTU Fund Bridge $ - $ - $ - $ - $ - $ 2,534,862 - - 4,417 - 4,761,298 - - - - - - 3,645,484 - - - - 116,931 89,017 1 9 1,008 348 16,512 54,566 - - - - 39,190 31,055 1 9 5,425 348 4,933,931 6,354,984 - - - - - - 3,741 - - - 321 - 3,563,281 - - - - 5,175,452 - - 3,741 321 3,563,281 5,175,452 1 9 1,684 27 1,370,650 1,179,532 - (6) - - - - - - 571,364 (509,033) 73,983 (709,983) (6) - - - 62,331 (636,000) (5) 5 9 1,684 469 255,736 27 62,286 1,432,981 2,596,187 543,532 12,438,425 $ - $ 478 $ 257,420 $ 62,313 $ 4,029,168 $ 12,981,957 (Continued) G-18 MONROE COUNTY, FLORIDA-BOARD OF COUNTY COMMISSIONERS COMBINING STATEMENT OF REVENUES, EXPENDITURES, AND CHANGES IN FUND BALANCES (CONTINUED) NONMAJOR GOVERNMENTAL FUNDS FOR THE YEAR ENDED SEPTEMBER 30, 2016 CAPITAL Total Nonmajor Clerk's Infrastructure Special Rev Revenue Revenue Bonds Funds Note Series 2007 Revenues: Taxes $ 55,441,394 $ - $ - Licenses and Permits 5,309,184 - - Intergovernmental 7,508,410 - - Charges for Services 9,077,177 - - Fines and Forfeitures 1,855,074 - - Investment Income 359,807 2,261 2,567 Miscellaneous 600,050 - - Total Revenues 80,151,096 2,261 2,567 Expenditures: Current: General Government 3,107,384 - - Public Safety 25,166,706 - - Physical Environment 2,027,565 - - Transportation 5,267,722 - - Economic Environment 34,698,863 - - Human Services 99,948 - - Culture and Recreation 1,697,955 - - Court Related 402,966 - - Capital Projects - - 19,071 Total Expenditures 72,469,109 - 19,071 Excess/Deficiency of Revenues Over (Under) Expenditures Other Financing Sources (Uses): Transfers from Other Funds Transfers to Other Funds Transfers from Constitutional Officers Total Other Financing Sources (Uses) Net Change in Fund Balances Fund Balances -October 1 7,681,987 2,261 (16,504 646,818 - - (4,894,734) - - 1,224,906 - - (3,023,010) - - 4,658,977 2,261 (16,504) 80,945,940 102,396 1,227,708 Fund Balances -September 30 $ 85,604,917 $ 104,657 $ 1,211,204 G-19 PROJECT FUNDS Total Duck Key Infrastructure Long Key Land Nonmajor Wastewater Revenue Bonds Wastewater Acquisition Governmental Project Series 2014 Project Fund Funds $ - $ - $ - $ - $ 55,441,394 92,740 - - - 5,401,924 - - - - 7,508,410 - - - - 9,077,177 - - - - 1,855,074 27,178 34,986 394 - 427,193 7,197 - - - 607,247 127,115 34,986 394 - 80,318,419 - 43,979 - - 3,151,363 - 25,641 - - 25,192,347 - - - - 2,027,565 - - - - 5,267,722 - - - - 34,698,863 - - - - 99,948 - - - - 1,697,955 - - - - 402,966 126,922 2,009,024 138,357 - 2,293,374 126,922 2,078,644 138,357 - 74,832,103 193 (2,043,658) (137,963 - 5,486,316 - - 1,600,000 6,000,000 8,246,818 (2,500,000) - - - (7,394,734) 574 - - - 1,225,480 (2,499,426) - 1,600,000 6,000,000 2,077,564 (2,499,233) (2,043,658) 1,462,037 6,000,000 7,563,880 2,597,757 9,285,560 - - 94,159,361 $ 98,524 $ 7,241,902 $ 1,462,037 $ 6,000,000 $ 101,723,241 G-20 MONROE COUNTY, FLORIDA-BOARD OF COUNTY COMMISSIONERS SCHEDULE OF REVENUES, EXPENDITURES AND CHANGES IN FUND BALANCES - BUDGET AND ACTUAL AFFORDABLE HOUSING PROGRAMS SPECIAL REVENUE FUND FOR THE YEAR ENDED SEPTEMBER 30, 2016 REVENUES: Investment Income Total Revenues EXPENDITURES: Current: Economic Environment: Affordable Housing Initiatives Total Expenditures Excess/Deficiency of Revenues Over (Under) Expenditures Other Financing Sources (Uses): Variance with Final Budget Original Final Positive Budget Budget Actual (Negative) $ 1,100 $ 1,100 $ 1,533 $ 433 1,100 1,100 1,533 433 290,000 290,000 290,000 290,000 (288,900) (288,900) 290,000 290,000 1,533 290,433 Reserve for Contingencies (9,360) (9,360) - 9,360 Reserve for Cash Balance (12,642) (12,642) - 12,642 Total Other Financing Sources (Uses) (22,002) (22,002) - 22,002 Net Change in Fund Balances (310,902) (310,902) 1,533 312,435 Fund Balances, October 1 310,902 310,902 388,737 77,835 Fund Balances, September 30 $ - $ - $ 390,270 $ 390,270 G-21 MONROE COUNTY, FLORIDA-BOARD OF COUNTY COMMISSIONERS SCHEDULE OF REVENUES, EXPENDITURES AND CHANGES IN FUND BALANCES - BUDGET AND ACTUAL TOURIST DEVELOPMENT, ALL DISTRICTS, TWO CENT SPECIAL REVENUE FUND FOR THE YEAR ENDED SEPTEMBER 30, 2016 REVENUES: Taxes Investment Income Total Revenues EXPENDITURES: Current: Economic Environment: Cultural Umbrella Fishing Umbrella Dive Umbrella Operations - Events Catastrophic Emergency Special Projects Total Expenditures Excess/Deficiency of Revenues Over (Under) Expenditures Variance with Final Budget Original Final Positive Budget Budget Actual (Negative) $ 5,533,500 $ 5,533,500 $ 5,962,063 $ 428,563 - - 20,504 20,504 5,533,500 5,533,500 5,982,567 449,067 1,355,096 1,355,096 1,084,796 270,300 1,072,000 1,072,000 914,590 157,410 1,000,000 1,000,000 985,556 14,444 3,265,169 3,265,169 2,091,158 1,174,011 1,827,833 1,827,833 - 1,827,833 1,663,487 1,663,487 1,067,842 595,645 10,183,585 10,183,585 6,143,942 4,039,643 (4,650,085) (4,650,085) (161,375) 4,488,710 Other Financing Sources (Uses): Transfers to Other Funds (75,436) (75,436) (58,182) 17,254 Transfers from Constitutional Officers - - 102,699 102,699 Total Other Financing Sources (Uses) (75,436) (75,436) 44,517 119,953 Net Change in Fund Balances (4,725,521) (4,725,521) (116,858) 4,608,663 Fund Balances, October 1 4,725,521 4,725,521 5,858,219 1,132,698 Fund Balances, September 30 $ - $ - $ 5,741,361 $ 5,741,361 G-22 MONROE COUNTY, FLORIDA-BOARD OF COUNTY COMMISSIONERS SCHEDULE OF REVENUES, EXPENDITURES AND CHANGES IN FUND BALANCES - BUDGET AND ACTUAL TOURIST DEVELOPMENT, ADMINISTRATION AND PROMOTIONAL, TWO CENT SPECIAL REVENUE FUND FOR THE YEAR ENDED SEPTEMBER 30, 2016 REVENUES: Taxes Investment Income Total Revenues EXPENDITURES: Current: Economic Environment: Advertising and Promotion Administrative Services Catastrophic Emergency Special Projects Total Expenditures Excess/Deficiency of Revenues Over (Under) Expenditures Variance with Final Budget Original Final Positive Budget Budget Actual (Negative) $ 11,466,500 $ 11,466,500 $ 12,354,567 $ 888,067 - - 26,465 26,465 11,466,500 11,466,500 12,381,032 914,532 11,371,858 11,371,858 10,355,476 1,016,382 1,334,088 1,334,088 945,578 388,510 2,272,167 2,272,167 - 2,272,167 1,692,336 1,692,336 1,692,108 228 16,670,449 16,670,449 12,993,162 3,677,287 (5,203,949) (5,203,949) (612,130) 4,591,819 Other Financing Sources (Uses): Transfers to Other Funds (263,502) (263,502) (39,610) 223,892 Transfers from Constitutional Officers - - 190,753 190,753 Total Other Financing Sources (Uses) (263,502) (263,502) 151,143 414,645 Net Change in Fund Balances (5,467,451) (5,467,451) (460,987) 5,006,464 Fund Balances, October 1 5,467,451 5,467,451 9,048,280 3,580,829 Fund Balances, September 30 $ - $ - $ 8,587,293 $ 8,587,293 G-23 MONROE COUNTY, FLORIDA-BOARD OF COUNTY COMMISSIONERS SCHEDULE OF REVENUES, EXPENDITURES AND CHANGES IN FUND BALANCES - BUDGET AND ACTUAL TOURIST DEVELOPMENT, DISTRICT ONE SPECIAL REVENUE FUND FOR THE YEAR ENDED SEPTEMBER 30, 2016 REVENUES: Taxes Investment Income Total Revenues EXPENDITURES: Current: Economic Environment: Advertising and Promotion Administrative Services Special Events Bricks and Mortar Information Services Beaches Total Expenditures Excess/Deficiency of Revenues Over (Under) Expenditures Other Financing Sources (Uses): Transfers to Other Funds Transfers from Constitutional Officers Total Other Financing Sources (Uses) Net Change in Fund Balances Fund Balances, October 1 Fund Balances, September 30 Variance with Final Budget Original Final Positive Budget Budget Actual (Negative) $ 9,671,300 $ 9,671,300 $ 10,251,807 $ 580,507 - - 34,685 34,685 9,671,300 9,671,300 10,286,492 615,192 5,778,502 5,778,502 314,847 255,048 488,983 488,983 7,267,410 7,267,410 383,761 383,761 314,047 314,047 5,441,531 336,971 14,875 240,173 333,991 154,992 2,306,026 4,961,384 383,761 - - 314,047 14,547,550 14,487,751 8,480,184 6,007,567 (4,876,250) (4,816,451) 1,806,308 6,622,759 (59,799) (59,799) - 162,507 162,507 (59,799) 102,708 162,507 (4,876,250) (4,876,250) 1,909,016 6,785,266 4,876,250 4,876,250 8,272,521 3,396,271 $ 10,181,537 $ 10,181,537 G-24 MONROE COUNTY, FLORIDA-BOARD OF COUNTY COMMISSIONERS SCHEDULE OF REVENUES, EXPENDITURES AND CHANGES IN FUND BALANCES - BUDGET AND ACTUAL TOURIST DEVELOPMENT, DISTRICT TWO SPECIAL REVENUE FUND FOR THE YEAR ENDED SEPTEMBER 30, 2016 REVENUES: Taxes Investment Income Total Revenues EXPENDITURES: Current: Economic Environment: Advertising and Promotion Administrative Services Special Events Bricks and Mortar Information Services Total Expenditures Excess/Deficiency of Revenues Over (Under) Expenditures Other Financing Sources (Uses): Transfers to Other Funds Transfers from Constitutional Officers Total Other Financing Sources (Uses) Net Change in Fund Balances Fund Balances, October 1 Fund Balances, September 30 Variance with Final Budget Original Final Positive Budget Budget Actual (Negative) $ 996,200 $ 996,200 $ 986,794 $ (9,406) - - 3,104 3,104 996,200 996,200 989,898 (6,302) 774,676 774,676 746,586 28,090 35,930 12,640 1,674 10,966 20,000 20,000 15,000 5,000 412,892 412,892 122,566 290,326 95,760 95,760 95,760 - 1,339,258 1,315,968 981,586 334,382 (343,058) (319,768) 8,312 328,080 (23,290) (23,290) - 15,515 15,515 (23,290) (7,775) 15,515 (343,058) (343,058) 537 343,595 343,058 343,058 849,781 506,723 $ 850,318 $ 850,318 G-25 MONROE COUNTY, FLORIDA-BOARD OF COUNTY COMMISSIONERS SCHEDULE OF REVENUES, EXPENDITURES AND CHANGES IN FUND BALANCES - BUDGET AND ACTUAL TOURIST DEVELOPMENT, DISTRICT THREE SPECIAL REVENUE FUND FOR THE YEAR ENDED SEPTEMBER 30, 2016 REVENUES: Taxes Investment Income Total Revenues EXPENDITURES: Current: Economic Environment: Advertising and Promotion Administrative Services Special Events Bricks and Mortar Information Services Total Expenditures Excess/Deficiency of Revenues Over (Under) Expenditures Other Financing Sources (Uses): Transfers to Other Funds Transfers from Constitutional Officers Total Other Financing Sources (Uses) Net Change in Fund Balances Fund Balances, October 1 Fund Balances, September 30 Variance with Final Budget Original Final Positive Budget Budget Actual (Negative) $ 2,427,600 $ 2,427,600 $ 2,913,297 $ 485,697 - - 8,861 8,861 2,427,600 2,427,600 2,922,158 494,558 1,333,751 1,333,751 1,301,368 32,383 77,447 61,091 3,358 57,733 60,520 60,520 55,648 4,872 1,612,480 1,612,480 569,154 1,043,326 168,000 168,000 168,000 - 3,252,198 3,235,842 2,097,528 1,138,314 (824,598) (808,242) 824,630 1,632,872 (16,356) (16,356) - 46,340 46,340 (16,356) 29,984 46,340 (824,598) (824,598) 854,614 1,679,212 824,598 824,598 1,816,663 992,065 $ 2,671,277 $ 2,671,277 G-26 MONROE COUNTY, FLORIDA-BOARD OF COUNTY COMMISSIONERS SCHEDULE OF REVENUES, EXPENDITURES AND CHANGES IN FUND BALANCES - BUDGET AND ACTUAL TOURIST DEVELOPMENT, DISTRICT FOUR SPECIAL REVENUE FUND FOR THE YEAR ENDED SEPTEMBER 30, 2016 REVENUES: Taxes Investment Income Total Revenues EXPENDITURES: Current: Economic Environment: Advertising and Promotion Administrative Services Special Events Bricks and Mortar Information Services Total Expenditures Excess/Deficiency of Revenues Over (Under) Expenditures Other Financing Sources (Uses): Transfers to Other Funds Transfers from Constitutional Officers Total Other Financing Sources (Uses) Net Change in Fund Balances Fund Balances, October 1 Fund Balances, September 30 Variance with Final Budget Original Final Positive Budget Budget Actual (Negative) $ 1,864,900 $ 1,864,900 $ 1,949,297 $ 84,397 - - 5,132 5,132 1,864,900 1,864,900 1,954,429 89,529 1,362,880 1,362,880 1,195,174 167,706 63,472 51,449 3,160 48,289 120,979 120,979 28,921 92,058 769,425 769,425 181,407 588,018 157,500 157,500 157,500 - 2,474,256 2,462,233 1,566,162 896,071 (609,356) (597,333) 388,267 985,600 (12,023) (12,023) - 30,827 30,827 (12,023) 18,804 30,827 (609,356) (609,356) 407,071 1,016,427 609,356 609,356 1,173,811 564,455 $ 1,580,882 $ 1,580,882 G-27 MONROE COUNTY, FLORIDA-BOARD OF COUNTY COMMISSIONERS SCHEDULE OF REVENUES, EXPENDITURES AND CHANGES IN FUND BALANCES - BUDGET AND ACTUAL TOURIST DEVELOPMENT, DISTRICT FIVE SPECIAL REVENUE FUND FOR THE YEAR ENDED SEPTEMBER 30, 2016 REVENUES: Taxes Investment Income Total Revenues EXPENDITURES: Current: Economic Environment: Advertising and Promotion Administrative Services Information Services Special Events Bricks and Mortar Total Expenditures Excess/Deficiency of Revenues Over (Under) Expenditures Other Financing Sources (Uses): Transfers to Other Funds Transfers from Constitutional Officers Total Other Financing Sources (Uses) Net Change in Fund Balances Fund Balances, October 1 Fund Balances, September 30 Variance with Final Budget Original Final Positive Budget Budget Actual (Negative) $ 2,040,000 $ 2,040,000 $ 2,215,435 $ 175,435 - - 6,578 6,578 2,040,000 2,040,000 2,222,013 182,013 1,564,090 1,564,090 1,397,707 166,383 70,173 32,749 2,461 30,288 149,100 149,100 149,100 - 95,156 95,156 45,004 50,152 841,216 841,216 239,398 601,818 2,719,735 2,682,311 1,833,670 848,641 (679,735) (642,311) 388,343 1,030,654 (37,424) (37,424) - 34,762 34,762 (37,424) (2,662) 34,762 (679,735) (679,735) 385,681 1,065,416 679,735 679,735 1,512,302 832,567 $ 1,897,983 $ 1,897,983 G-28 MONROE COUNTY, FLORIDA-BOARD OF COUNTY COMMISSIONERS SCHEDULE OF REVENUES, EXPENDITURES AND CHANGES IN FUND BALANCES - BUDGET AND ACTUAL IMPACT FEES - ROADWAYS SPECIAL REVENUE FUND FOR THE YEAR ENDED SEPTEMBER 30, 2016 REVENUES: Licenses and Permits Investment Income Miscellaneous Total Revenues EXPENDITURES: Current: Transportation: Roadway Projects Truman Bridge Ped Bridge Bike Lanes Key Colony Beach Road Project Total Expenditures Excess/Deficiency of Revenues Over (Under) Expenditures Variance with Final Budget Original Final Positive Budget Budget Actual (Negative) $ 83,061 $ 83,061 $ 126,494 $ 43,433 9,464 9,464 9,546 82 - - 36,555 36,555 92,525 92,525 172,595 80,070 220,403 170,403 - 170,403 929,520 929,520 - 929,520 63,598 113,598 92,270 21,328 35,554 35,554 - 35,554 1,249,075 1,249,075 92,270 1,156,805 (1,156,550) (1,156,550) 80,325 1,236,875 Other Financing Sources (Uses): Transfers to Other Funds (73,983) (73,983) (73,983) Total Other Financing Sources (Uses) (73,983) (73,983) (73,983) Net Change in Fund Balances Fund Balances, October 1 Fund Balances, September 30 (1,230,533) (1,230,533) 6,342 1,236,875 1,230,533 1,230,533 1,365,591 135,058 $ 1,371,933 $ 1,371,933 G-29 MONROE COUNTY, FLORIDA-BOARD OF COUNTY COMMISSIONERS SCHEDULE OF REVENUES, EXPENDITURES AND CHANGES IN FUND BALANCES - BUDGET AND ACTUAL IMPACT FEES - PARKS AND RECREATION SPECIAL REVENUE FUND FOR THE YEAR ENDED SEPTEMBER 30, 2016 REVENUES: Licenses and Permits Investment Income Total Revenues EXPENDITURES: Current: Culture and Recreation: District 1 Projects District 2 Projects District 3 Projects Bay Point Park Big Coppitt Park Bernstein Park Total Expenditures Excess/Deficiency of Revenues Over (Under) Expenditures Net Change in Fund Balances Fund Balances, October 1 Fund Balances, September 30 Variance with Final Budget Original Final Positive Budget Budget Actual (Negative) $ 28,341 $ 28,341 $ 67,940 $ 39,599 1,199 1,199 2,487 1,288 29,540 29,540 70,427 40,887 49,234 49,234 - 49,234 213,420 213,420 - 213,420 119,867 119,867 - 119,867 16,856 16,856 - 16,856 20,000 20,000 13,355 6,645 25,400 25,400 - 25,400 444,777 444,777 13,355 431,422 (415,237) (415,237) 57,072 472,309 (415,237) (415,237) 57,072 472,309 415,237 415,237 566,545 151,308 $ 623,617 $ 623,617 G-30 MONROE COUNTY, FLORIDA-BOARD OF COUNTY COMMISSIONERS SCHEDULE OF REVENUES, EXPENDITURES AND CHANGES IN FUND BALANCES - BUDGET AND ACTUAL IMPACT FEES - LIBRARIES SPECIAL REVENUE FUND FOR THE YEAR ENDED SEPTEMBER 30, 2016 REVENUES: Licenses and Permits Investment Income Total Revenues EXPENDITURES: Current: Culture and Recreation: County -wide Library Projects Library Automation Total Expenditures Excess/Deficiency of Revenues Over (Under) Expenditures Net Change in Fund Balances Fund Balances, October 1 Fund Balances, September 30 Variance with Final Budget Original Final Positive Budget Budget Actual (Negative) $ 30,000 $ 30,000 $ 43,788 $ 13,788 2,700 2,700 4,195 1,495 32,700 32,700 47,983 15,283 798,585 798,585 - 798,585 21,297 21,297 - 21,297 819,882 819,882 - 819,882 (787,182) (787,182) 47,983 835,165 (787,182) (787,182) 47,983 835,165 787,182 787,182 1,034,099 246,917 $ 1,082,082 $ 1,082,082 G-31 MONROE COUNTY, FLORIDA-BOARD OF COUNTY COMMISSIONERS SCHEDULE OF REVENUES, EXPENDITURES AND CHANGES IN FUND BALANCES - BUDGET AND ACTUAL IMPACT FEES - SOLID WASTE SPECIAL REVENUE FUND FOR THE YEAR ENDED SEPTEMBER 30, 2016 REVENUES: Licenses and Permits Investment Income Total Revenues EXPENDITURES: Current: Physical Environment: County -wide Solid Waste Projects Total Expenditures Excess/Deficiency of Revenues Over (Under) Expenditures Net Change in Fund Balances Fund Balances, October 1 Fund Balances, September 30 Original Final Budget Budget Variance with Final Budget Positive Actual (Negative) $ 7,400 $ 7,400 $ 7,993 $ 593 150 150 344 194 7,550 7,550 8,337 787 68,563 68,563 - 68,563 68,563 68,563 - 68,563 (61,013) (61,013) 8,337 69,350 (61,013) (61,013) 8,337 69,350 61,013 61,013 80,769 19,756 89,106 $ 89,106 G-32 MONROE COUNTY, FLORIDA-BOARD OF COUNTY COMMISSIONERS SCHEDULE OF REVENUES, EXPENDITURES AND CHANGES IN FUND BALANCES - BUDGET AND ACTUAL IMPACT FEES - POLICE FACILITIES SPECIAL REVENUE FUND FOR THE YEAR ENDED SEPTEMBER 30, 2016 REVENUES: Licenses and Permits Investment Income Total Revenues EXPENDITURES: Current: Public Safety: County -wide Police Facility Total Expenditures Excess/Deficiency of Revenues Over (Under) Expenditures Net Change in Fund Balances Variance with Final Budget Original Final Positive Budget Budget Actual (Negative) $ 17,500 $ 17,500 $ 29,467 $ 11,967 200 200 397 197 17,700 17,700 29,864 12,164 68,494 68,494 - 68,494 68,494 68,494 - 68,494 (50,794) (50,794) 29,864 80,658 (50,794) (50,794) 29,864 80,658 Fund Balances, October 1 50,794 50,794 72,666 21,872 Fund Balances, September 30 $ - $ - $ 102,530 $ 102,530 G-33 MONROE COUNTY, FLORIDA-BOARD OF COUNTY COMMISSIONERS SCHEDULE OF REVENUES, EXPENDITURES AND CHANGES IN FUND BALANCES - BUDGET AND ACTUAL IMPACT FEES - FIRE AND EMS SPECIAL REVENUE FUND FOR THE YEAR ENDED SEPTEMBER 30, 2016 Variance with Final Budget Original Final Positive Budget Budget Actual (Negative) REVENUES: Licenses and Permits $ 15,610 $ 15,605 $ 12,756 $ (2,849) Investment Income 125 130 312 182 Total Revenues 15,735 15,735 13,068 (2,667) EXPENDITURES: Current: Public Safety: District 1 Fire & EMS Project 25,861 25,861 - 25,861 District 2 Fire & EMS Project 625 625 - 625 District 3 Fire & EMS Project 25,995 25,995 - 25,995 Key Colony Beach Fire & EMS 925 925 - 925 Total Expenditures 53,406 53,406 - 53,406 Excess/Deficiency of Revenues Over (Under) Expenditures (37,671) (37,671) 13,068 50,739 Net Change in Fund Balances (37,671) (37,671) 13,068 50,739 Fund Balances, October 1 37,671 37,671 68,479 30,808 Fund Balances, September 30 $ - $ - $ 81,547 $ 81,547 G-34 MONROE COUNTY, FLORIDA-BOARD OF COUNTY COMMISSIONERS SCHEDULE OF REVENUES, EXPENDITURES AND CHANGES IN FUND BALANCES - BUDGET AND ACTUAL IMPACT FEES - EMPLOYEE FAIR SHARE HOUSING SPECIAL REVENUE FUND FOR THE YEAR ENDED SEPTEMBER 30, 2016 Variance with Final Budget Original Final Positive Budget Budget Actual (Negative) REVENUES: Licenses and Permits $ 5,000 $ 5,000 $ 24,245 $ 19,245 Investment Income 1,700 1,700 816 (884) Total Revenues 6,700 6,700 25,061 18,361 EXPENDITURES: Current: Economic Environment: District 1 Employee Fair Share Housing 155,000 - - - District 3 Employee Fair Share Housing 145,000 - - - Total Expenditures 300,000 - - - Excess/Deficiency of Revenues Over (Under) Expenditures (293,300) 6,700 25,061 18,361 Other Financing Sources (Uses): Reserve for Contingencies (18,952) (6,365) - 6,365 Reserve for Cash Balance (47,660) - - - Transfers to Other Funds - (571,364) (571,364) - Total Other Financing Sources (Uses) (66,612) (577,729) (571,364) 6,365 Net Change in Fund Balances Fund Balances, October 1 Fund Balances, September 30 (359,912) (571,029) (546,303) 24,726 359,912 571,029 571,364 335 $ - $ - $ 25,061 $ 25,061 G-35 MONROE COUNTY, FLORIDA-BOARD OF COUNTY COMMISSIONERS SCHEDULE OF REVENUES, EXPENDITURES AND CHANGES IN FUND BALANCES - BUDGET AND ACTUAL FIRE AND AMBULANCE DISTRICT #1 - LOWER AND MIDDLE KEYS SPECIAL REVENUE FUND FOR THE YEAR ENDED SEPTEMBER 30, 2016 REVENUES: Taxes Intergovernmental Charges for Services Investment Income Miscellaneous Total Revenues EXPENDITURES: Current: General Government: Tax Collector Property Appraiser Total General Government Public Safety: Fire Rescue - Central Lower & Middle Keys Ambulance District Total Public Safety Total Expenditures Excess/Deficiency of Revenues Over (Under) Expenditures Other Financing Sources (Uses): Reserve for Contingencies Reserve for Cash Balance Transfers to Other Funds Transfers from Constitutional Officers Total Other Financing Sources (Uses) Net Change in Fund Balances Fund Balances, October 1 Fund Balances, September 30 Original Final Budget Budget Variance with Final Budget Positive Actual (Negative) $ 10,363,483 $ 10,363,483 $ 9,992,794 $ (370,689) 46,500 46,500 137,203 90,703 626,000 626,000 578,811 (47,189) 27,500 27,500 35,409 7,909 - - 37,037 37,037 11,063,483 11,063,483 10,781,254 (282,229) 309,854 309,854 293,376 16,478 220,514 220,514 204,787 15,727 530,368 530,368 498,163 32,205 10,385,682 11,027,531 10,582,973 444,558 - - (185) 185 10,385,682 11,027,531 10,582,788 444,743 10,916,050 11,557,899 11,080,951 476,948 147,433 (494,416) (299,697) 194,719 (641,849) - - - (2,004,502) (2,004,502) - 2,004,502 (908,519) (908,519) (908,519) - 170,000 170,000 202,119 32,119 (3,384,870) (2,743,021) (706,400) 2,036,621 (3,237,437) (3,237,437) (1,006,097) 2,231,340 3,237,437 3,237,437 6,282,834 3,045,397 $ 5,276,737 $ 5,276,737 G-36 MONROE COUNTY, FLORIDA-BOARD OF COUNTY COMMISSIONERS SCHEDULE OF REVENUES, EXPENDITURES AND CHANGES IN FUND BALANCES - BUDGET AND ACTUAL UPPER KEYS HEALTH CARE SPECIAL TAXING DISTRICT SPECIAL REVENUE FUND FOR THE YEAR ENDED SEPTEMBER 30, 2016 REVENUES: Investment Income Miscellaneous Total Revenues EXPENDITURES: Current: Human Services: Trauma District Administration Trauma Transportation and Treatment Trauma Pretransportation Trauma Facility Upgrade Total Expenditures Excess/Deficiency of Revenues Over (Under) Expenditures Other Financing Sources (Uses): Variance with Final Budget Original Final Positive Budget Budget Actual (Negative) $ 3,000 $ 3,000 $ 3,481 $ 481 - - 89,303 89,303 3,000 3,000 92,784 89,784 15,995 15,995 13,347 2,648 200,000 200,000 1,664 198,336 2,000 2,000 380 1,620 100 100 - 100 218,095 218,095 15,391 202,704 (215,095) (215,095) 77,393 292,488 Reserve for Contingencies (28,000) (28,000) - 28,000 Reserve for Cash Balance (36,114) (36,114) - 36,114 Transfers to Other Funds (18,641) (18,641) (18,641) - Total Other Financing Sources (Uses) (82,755) (82,755) (18,641) 64,114 Net Change in Fund Balances Fund Balances, October 1 Fund Balances, September 30 (297,850) (297,850) 58,752 356,602 297,850 297,850 793,426 495,576 $ 852,178 $ 852,178 G-37 MONROE COUNTY, FLORIDA-BOARD OF COUNTY COMMISSIONERS SCHEDULE OF REVENUES, EXPENDITURES AND CHANGES IN FUND BALANCES - BUDGET AND ACTUAL UNINCORPORATED AREA SERVICE DISTRICT - PARKS AND RECREATION SPECIAL REVENUE FUND FOR THE YEAR ENDED SEPTEMBER 30, 2016 REVENUES: Taxes Intergovernmental Charges for Services Investment Income Miscellaneous Total Revenues EXPENDITURES: Current: General Government: Tax Collector Culture and Recreation: Variance with Final Budget Original Final Positive Budget Budget Actual (Negative) $ 1,662,725 $ 1,662,725 $ 1,605,035 $ (57,690) - - 5,674 5,674 40,000 40,000 64,775 24,775 4,000 4,000 5,839 1,839 58,000 58,000 56,768 (1,232) 1,764,725 1,764,725 1,738,091 (26,634) 70,000 70,000 47,194 22,806 Parks and Beaches Unincorporated 1,506,069 1,506,069 1,421,679 84,390 Jacob's Aquatic Center 180,000 180,000 180,000 - School Board Interlocal 29,500 29,500 26,500 3,000 Total Culture and Recreation 1,715,569 1,715,569 1,628,179 87,390 Total Expenditures 1,785,569 1,785,569 1,675,373 110,196 Excess/Deficiency of Revenues Over (Under) Expenditures (20,844) (20,844) 62,718 83,562 Other Financing Sources (Uses): Reserve for Contingencies (78,000) (78,000) - 78,000 Reserve for Cash Balance (340,555) (340,555) - 340,555 Transfers to Other Funds (162,768) (162,768) (162,768) - Transfers from Constitutional Officers - - 24,188 24,188 Total Other Financing Sources (Uses) (581,323) (581,323) (138,580) 442,743 Net Change in Fund Balances (602,167) (602,167) (75,862) 526,305 Fund Balances, October 1 602,167 602,167 1,042,836 440,669 Fund Balances, September 30 $ - $ - $ 966,974 $ 966,974 G-38 MONROE COUNTY, FLORIDA-BOARD OF COUNTY COMMISSIONERS SCHEDULE OF REVENUES, EXPENDITURES, AND CHANGES IN FUND BALANCES - BUDGET AND ACTUAL UNINCORPORATED AREA SERVICE DISTRICT - PLANNING, BUILDING AND ZONING SPECIAL REVENUE FUND FOR THE YEAR ENDED SEPTEMBER 30, 2016 Variance with Final Budget Original Final Positive Budget Budget Actual (Negative) REVENUES: Taxes $ 665,000 $ 665,000 $ 646,077 $ (18,923) Intergovernmental 2,849,523 2,849,523 3,335,657 486,134 Charges for Services 2,040,000 2,040,000 2,605,329 565,329 Fines and Forfeitures 470,000 470,000 1,101,595 631,595 Investment Income 25,000 25,000 43,203 18,203 Miscellaneous - - 1,618 1,618 Total Revenues 6,049,523 6,049,523 7,733,479 1,683,956 Expenditures: Current: General Government: Tax Collector - 5,000 - 5,000 Property Appraiser 40,451 40,451 32,879 7,572 Growth Mgmt County Attorney 450,807 455,807 453,690 2,117 Planning Department 1,545,550 1,545,550 1,238,950 306,600 2010 Comprehensive Plan 130,000 130,000 60,342 69,658 GIS 213,070 213,070 151,037 62,033 Planning Commission 82,176 82,176 69,542 12,634 Growth Mgmt Administration 705,630 705,630 395,250 310,380 Total General Government 3,167,684 3,177,684 2,401,690 775,994 Public Safety: Code Enforcement 1,434,535 1,434,535 1,228,000 206,535 Fire & Rescue Coordinator 820,928 820,928 718,990 101,938 Fire Marshall 440,223 440,223 406,240 33,983 Fire Refund - 21,500 20,326 1,174 Planning Refund 12,000 79,000 79,000 - Total Public Safety 2,707,686 2,796,186 2,452,556 343,630 Physical Environment: Environmental Resources 751,221 751,221 642,126 109,095 Total Physical Environment 751,221 751,221 642,126 109,095 Total Expenditures 6,626,591 6,725,091 5,496,372 1,228,719 Excess/Deficiency of Revenues Over (Under) Expenditures (577,068) (675,568) 2,237,107 2,912,675 (Continued) G-39 MONROE COUNTY, FLORIDA-BOARD OF COUNTY COMMISSIONERS SCHEDULE OF REVENUES, EXPENDITURES, AND CHANGES IN FUND BALANCES - BUDGET AND ACTUAL (CONTINUED) UNINCORPORATED AREA SERVICE DISTRICT - PLANNING, BUILDING AND ZONING SPECIAL REVENUE FUND FOR THE YEAR ENDED SEPTEMBER 30, 2016 Other Financing Sources (Uses): Reserve for Contingencies Reserve for Cash Balance Transfers to Other Funds Transfers from Constitutional Officers Total Other Financing Sources (Uses) Net Change in Fund Balances Fund Balances, October 1 Fund Balances, September 30 Variance with Final Budget Original Final Positive Budget Budget Actual (Negative) (468,426) (332,426) - 332,426 (1,647,409) (1,647,409) - 1,647,409 (1,547,942) (1,585,442) (1,560,680) 24,762 4,500 4,500 8,310 3,810 (3,659,277) (3,560,777) (1,552,370) 2,008,407 (4,236,345) (4,236,345) 684,737 4,921,082 4,236,345 4,236,345 9,596,259 5,359,914 $ 10,280,996 $ 10,280,996 G-40 MONROE COUNTY, FLORIDA-BOARD OF COUNTY COMMISSIONERS SCHEDULE OF REVENUES, EXPENDITURES AND CHANGES IN FUND BALANCES - BUDGET AND ACTUAL MUNICIPAL POLICING SPECIAL REVENUE FUND FOR THE YEAR ENDED SEPTEMBER 30, 2016 REVENUES: Taxes Charges for Services Investment Income Total Revenues EXPENDITURES: Current: General Government: Tax Collector Property Appraiser Total General Government Public Safety: Insurance Unincorporated & Layton Insurance Islamorada Insurance Marathon Sheriff Unincorporated & Layton Sheriff Islamorada Sheriff Marathon Total Public Safety Total Expenditures Excess/Deficiency of Revenues Over (Under) Expenditures Other Financing Sources (Uses): Reserve for Contingencies Reserve for Cash Balance Transfers to Other Funds Transfers from Constitutional Officers Total Other Financing Sources (Uses) Net Change in Fund Balances Fund Balances, October 1 Fund Balances, September 30 Variance with Final Budget Original Final Positive Budget Budget Actual (Negative) $ 4,177,433 $ 4,177,433 $ 4,029,349 $ (148,084) 3,522,028 3,522,028 3,498,473 (23,555) 6,900 6,900 10,933 4,033 7,706,361 7,706,361 7,538,755 (167,606) 124,903 124,903 118,486 6,417 86,470 86,470 82,574 3,896 211,373 211,373 201,060 10,313 543,749 513,749 466,889 46,860 226,995 256,995 236,736 20,259 203,187 203,187 178,711 24,476 3,693,924 3,693,924 3,693,924 - 1,673,120 1,673,120 1,673,120 - 1,418,726 1,418,726 1,418,726 - 7,759,701 7,759,701 7,668,106 91,595 7,971,074 7,971,074 7,869,166 101,908 (264,713) (264,713) (330,411) (65,698) (95,000) (95,000) - 95,000 (807,462) (807,462) - 807,462 (11,514) (11,514) (11,514) - 260,000 260,000 385,651 125,651 (653,976) (653,976) 374,137 1,028,113 (918,689) (918,689) 43,726 962,415 918,689 918,689 2,368,998 1,450,309 $ 2,412,724 $ 2,412,724 G-41 MONROE COUNTY, FLORIDA-BOARD OF COUNTY COMMISSIONERS SCHEDULE OF REVENUES, EXPENDITURES AND CHANGES IN FUND BALANCES - BUDGET AND ACTUAL 911 ENHANCEMENT FEES SPECIAL REVENUE FUND FOR THE YEAR ENDED SEPTEMBER 30, 2016 Variance with Final Budget Original Final Positive Budget Budget Actual (Negative) REVENUES: Charges for Services $ 501,619 $ 538,153 $ 458,175 $ (79,978) Investment Income 245 245 295 50 Total Revenues 501,864 538,398 458,470 (79,928) EXPENDITURES: Current: Public Safety: 911 Enhancement Fund 238,115 238,115 158,366 79,749 911 Wireless 263,749 300,283 296,611 3,672 Total Expenditures 501,864 538,398 454,977 83,421 Excess/Deficiency of Revenues Over (Under) Expenditures - - 3,493 3,493 Net Change in Fund Balances - - 3,493 3,493 Fund Balances, October 1 - - (3,299) (3,299) Fund Balances, September 30 $ - $ - $ 194 $ 194 G-42 MONROE COUNTY, FLORIDA-BOARD OF COUNTY COMMISSIONERS SCHEDULE OF REVENUES, EXPENDITURES AND CHANGES IN FUND BALANCES - BUDGET AND ACTUAL DUCK KEY SECURITY DISTRICT SPECIAL REVENUE FUND FOR THE YEAR ENDED SEPTEMBER 30, 2016 Variance with Final Budget Original Final Positive Budget Budget Actual (Negative) REVENUES: Licenses and Permits $ 75,000 $ 75,000 $ 75,858 $ 858 Investment Income 1,100 1,100 1,704 604 Total Revenues 76,100 76,100 77,562 1,462 EXPENDITURES: Current: General Government: Tax Collector 2,250 2,250 1,000 1,250 Public Safety: Island Security 247,500 247,500 66,817 180,683 Total Expenditures 249,750 249,750 67,817 181,933 Excess/Deficiency of Revenues Over (Under) Expenditures (173,650) (173,650) 9,745 183,395 Other Financing Sources (Uses): Reserve for Contingencies (35,398) (35,398) - 35,398 Reserve for Cash Balance (68,831) (68,831) - 68,831 Total Other Financing Sources (Uses) (104,229) (104,229) - 104,229 Net Change in Fund Balances (277,879) (277,879) 9,745 287,624 Fund Balances, October 1 277,879 277,879 405,406 127,527 Fund Balances, September 30 $ - $ - $ 415,151 $ 415,151 G-43 MONROE COUNTY, FLORIDA-BOARD OF COUNTY COMMISSIONERS SCHEDULE OF REVENUES, EXPENDITURES AND CHANGES IN FUND BALANCES - BUDGET AND ACTUAL LOCAL HOUSING ASSISTANCE FOR THE YEAR ENDED SEPTEMBER 30, 2016 Variance with Final Budget Original Final Positive Budget Budget Actual (Negative) REVENUES: Intergovernmental $ 373,310 $ 373,310 $ 384,392 $ 11,082 Investment Income 4,500 4,500 5,104 604 Miscellaneous - - 115,210 115,210 Total Revenues 377,810 377,810 504,706 126,896 EXPENDITURES: Current: Economic Environment: Homeowner Assistance 14 458,454 458,454 405,002 53,452 Homeowner Assistance 15 365,717 365,717 134,056 231,661 Homeowner Assistance 16 350,000 350,000 - 350,000 Fair Housing 14 5,000 5,000 - 5,000 Fair Housing 15 5,000 5,000 - 5,000 Fair Housing 16 5,000 5,000 - 5,000 Administration 14 35,500 35,500 35,500 - Administration 15 35,500 35,500 28,071 7,429 Administration 16 35,500 35,500 - 35,500 Total Expenditures 1,295,671 1,295,671 602,629 693,042 Excess/Deficiency of Revenues Over (Under) Expenditures (917,861) (917,861) (97,923) 819,938 Other Financing Sources (Uses): Reserve for Contingencies (13,223) (13,223) - 13,223 Reserve for Cash Balance (13,222) (13,222) - 13,222 Total Other Financing Sources (Uses) (26,445) (26,445) - 26,445 Net Change in Fund Balances Fund Balances, October 1 (944,306) (944,306) 944,306 944,306 (97,923) 846,383 1,218,904 274,598 Fund Balances, September 30 $ - $ - $ 1,120,981 $ 1,120,981 G-44 MONROE COUNTY, FLORIDA-BOARD OF COUNTY COMMISSIONERS SCHEDULE OF REVENUES, EXPENDITURES AND CHANGES IN FUND BALANCES - BUDGET AND ACTUAL BOATING IMPROVEMENT SPECIAL REVENUE FUND FOR THE YEAR ENDED SEPTEMBER 30, 2016 REVENUES: Charges for Services Investment Income Miscellaneous Total Revenues EXPENDITURES: Current: Physical Environment: Boating Improvement Boating Imp Fees/Retained Vessel Total Expenditures Excess/Deficiency of Revenues Over (Under) Expenditures Other Financing Sources (Uses): Variance with Final Budget Original Final Positive Budget Budget Actual (Negative) $ 655,000 $ 655,000 $ 770,986 $ 115,986 8,000 8,000 9,435 1,435 2,600 22,393 5,202 (17,191) 665,600 685,393 785,623 100,230 1,551,567 1,625,552 227,955 1,397,597 456,701 399,251 259,830 139,421 2,008,268 2,024,803 487,785 1,537,018 (1,342,668) (1,339,410) 297,838 1,637,248 Reserve for Contingencies (216,600) (30,667) - 30,667 Reserve for Cash Balance (303,391) (303,391) - 303,391 Transfers to Other Funds - (189,191) (94,654) 94,537 Total Other Financing Sources (Uses) (519,991) (523,249) (94,654) 428,595 Net Change in Fund Balances (1,862,659) (1,862,659) 203,184 2,065,843 Fund Balances, October 1 1,862,659 1,862,659 2,332,406 469,747 Fund Balances, September 30 $ - $ - $ 2,535,590 $ 2,535,590 G-45 MONROE COUNTY, FLORIDA-BOARD OF COUNTY COMMISSIONERS SCHEDULE OF REVENUES, EXPENDITURES AND CHANGES IN FUND BALANCES - BUDGET AND ACTUAL MISCELLANEOUS SPECIAL REVENUE FUND FOR THE YEAR ENDED SEPTEMBER 30, 2016 REVENUES: Licenses and Permits Charges for Services Fines and Forfeitures Investment Income Miscellaneous Total Revenues EXPENDITURES: Current: General Government: Conservation Land Purchase Legal Scholar Program Total General Government Public Safety: Interagency Communications Education -Building Department Environmental Resource Education Fire and Rescue Bldg Educ Crime Prevention Program Climate Leadership Summit Total Public Safety Human Services: Variance with Final Budget Original Final Positive Budget Budget Actual (Negative) $ - $ 128,433 $ 128,434 $ 1 324,260 406,369 82,109 91,605 220,466 128,861 - 10,867 10,867 94,387 184,537 90,150 638,685 950,673 311,988 15,000 15,000 - 15,000 - 6,000 4,471 1,529 15,000 21,000 4,471 16,529 140,000 140,000 128,950 11,050 23,400 79,141 13,955 65,186 40,000 107,893 13,425 94,468 - 4,800 - 4,800 - 45,313 27,242 18,071 50,000 191,387 143,361 48,026 253,400 568,534 326,933 241,601 FL Keys Council for the Handicapped - 3,595 310 3,285 Bayshore Donations 940 940 - 940 Traffic Educ, Ord 021-2002 50,000 130,128 - 130,128 Legal Aid - 26,389 28,358 (1,969) Total Human Services 50,940 161,052 28,668 132,384 Culture and Recreation: Settler's Park Landscaping - 3,782 1,178 2,604 Library Special Programs - 55,929 5,549 50,380 Library Donation -Golan Trust 305,000 294,037 2,500 291,537 Total Culture and Recreation 305,000 353,748 9,227 344,521 (Continued) G-46 MONROE COUNTY, FLORIDA-BOARD OF COUNTY COMMISSIONERS SCHEDULE OF REVENUES, EXPENDITURES AND CHANGES IN FUND BALANCES - BUDGET AND ACTUAL (CONTINUED) MISCELLANEOUS SPECIAL REVENUE FUND FOR THE YEAR ENDED SEPTEMBER 30, 2016 Court Related: Teen Court - Ord 016-2004 Ord 016-2004 St Court Sup SA Ct Tech FS28.24(12)(E) PD Ct Tech FS28.24(12)(E) J Ct Tech FS28.24(12)(E) Total Court Related Total Expenditures Excess/Deficiency of Revenues Over (Under) Expenditures Other Financing Sources (Uses): Original Final Budget Budget Actual Variance with Final Budget Positive (Negative) - 26,389 26,389 - 15,000 77,563 12,941 64,622 375,000 533,609 46,239 487,370 10,000 76,585 24,101 52,484 45,218 382,047 113,160 268,887 445,218 1,096,193 222,830 873,363 1,069,558 2,200,527 592,129 1,608,398 (1,069,558) (1,561,842) 358,544 1,920,386 Reserve for Contingencies (766,996) (251,327) - 251,327 Transfers to Other Funds - (26,385) - 26,385 Transfers from Other Funds - 3,000 1,471 (1,529) Total Other Financing Sources (Uses) (766,996) (274,712) 1,471 276,183 Net Change in Fund Balances Fund Balances, October 1 Fund Balances, September 30 (1,836,554) (1,836,554) 360,015 1,836,554 1,836,554 2,430,252 2,196,569 593,698 $ 2,790,267 $ 2,790,267 G-47 MONROE COUNTY, FLORIDA-BOARD OF COUNTY COMMISSIONERS SCHEDULE OF REVENUES, EXPENDITURES AND CHANGES IN FUND BALANCES - BUDGET AND ACTUAL ENVIRONMENTAL RESTORATION SPECIAL REVENUE FUND FOR THE YEAR ENDED SEPTEMBER 30, 2016 REVENUES: Fines and Forfeitures Investment Income Total Revenues EXPENDITURES: Current: Physical Environment: Environmental Restoration KLWT Plant Site Mitg Pro Total Physical Environment Culture and Recreation: Settler's Park Total Expenditures Excess/Deficiency of Revenues Over (Under) Expenditures Other Financing Sources (Uses): Variance with Final Budget Original Final Positive Budget Budget Actual (Negative) $ 255,000 $ 255,000 $ 533,013 $ 278,013 4,700 4,700 7,249 2,549 259,700 259,700 540,262 280,562 231,724 206,724 179,022 27,702 694,677 694,677 693,960 717 926,401 901,401 872,982 28,419 9,083 - 9,083 926,401 910,484 872,982 37,502 (666,701) (650,784) (332,720) 318,064 Reserve for Contingencies (138,564) (129,481) - 129,481 Reserve for Cash Balance (266,241) (266,241) - 266,241 Transfers to Other Funds - (25,000) (24,862) 138 Total Other Financing Sources (Uses) (404,805) (420,722) (24,862) 395,860 Net Change in Fund Balances (1,071,506) (1,071,506) (357,582) 713,924 Fund Balances, October 1 1,071,506 1,071,506 1,995,790 924,284 Fund Balances, September 30 $ - $ - $ 1,638,208 $ 1,638,208 G-48 MONROE COUNTY, FLORIDA-BOARD OF COUNTY COMMISSIONERS SCHEDULE OF REVENUES, EXPENDITURES AND CHANGES IN FUND BALANCES - BUDGET AND ACTUAL LAW ENFORCEMENT TRUST SPECIAL REVENUE FUND FOR THE YEAR ENDED SEPTEMBER 30, 2016 REVENUES: Investment Income Miscellaneous Total Revenues EXPENDITURES: Current: Public Safety: Law Enforcement Total Expenditures Excess/Deficiency of Revenues Over (Under) Expenditures Other Financing Sources (Uses): Variance with Final Budget Original Final Positive Budget Budget Actual (Negative) $ 1,750 $ 1,750 $ 2,391 $ 641 - 175,713 - (175,713) 1,750 177,463 2,391 (175,072) 345,000 520,713 51,248 469,465 345,000 520,713 51,248 469,465 (343,250) (343,250) (48,857) 294,393 Reserve for Contingencies (48,947) (48,947) - 48,947 Reserve for Cash Balance (98,487) (98,487) - 98,487 Transfers from Constitutional Officers - - 20,722 20,722 Total Other Financing Sources (Uses) (147,434) (147,434) 20,722 168,156 Net Change in Fund Balances Fund Balances, October 1 Fund Balances, September 30 (490,684) (490,684) (28,135) 462,549 490,684 490,684 668,124 177,440 $ 639,989 $ 639,989 G-49 MONROE COUNTY, FLORIDA-BOARD OF COUNTY COMMISSIONERS SCHEDULE OF REVENUES, EXPENDITURES AND CHANGES IN FUND BALANCES - BUDGET AND ACTUAL COURT FACILITY FEES SPECIAL REVENUE FUND FOR THE YEAR ENDED SEPTEMBER 30, 2016 REVENUES: Charges for Services Investment Income Total Revenues EXPENDITURES: Current: Court Related: Court Facility Total Expenditures Variance with Final Budget Original Final Positive Budget Budget Actual (Negative) $ 517,584 $ 517,584 $ 460,105 $ (57,479) 7,500 7,500 12,450 4,950 525,084 525,084 472,555 (52,529) 348,855 348,855 180,136 168,719 348,855 348,855 180,136 168,719 Excess/Deficiency of Revenues Over (Under) Expenditures 176,229 176,229 292,419 116,190 Other Financing Sources (Uses): Reserve for Contingencies (49,910) (49,910) - 49,910 Reserve for Cash Balance (99,691) (99,691) - 99,691 Total Other Financing Sources (Uses) (149,601) (149,601) - 149,601 Net Change in Fund Balances 26,628 26,628 292,419 265,791 Fund Balances, October 1 (26,628) (26,628) 2,929,291 2,955,919 Fund Balances, September 30 $ - $ - $ 3,221,710 $ 3,221,710 G-50 MONROE COUNTY, FLORIDA-BOARD OF COUNTY COMMISSIONERS SCHEDULE OF REVENUES, EXPENDITURES AND CHANGES IN FUND BALANCES - BUDGET AND ACTUAL DRUG ABUSE TRUST SPECIAL REVENUE FUND FOR THE YEAR ENDED SEPTEMBER 30, 2016 REVENUES: Charges for Services Investment Income Total Revenues EXPENDITURES: Current: Human Services: Drug Abuse Trust Fund Total Expenditures Excess/Deficiency of Revenues Over (Under) Expenditures Other Financing Sources (Uses): Variance with Final Budget Original Final Positive Budget Budget Actual (Negative) $ 30,000 $ 30,000 $ 28,206 $ (1,794) 380 380 508 128 30,380 30,380 28,714 (1,666) 96,000 93,957 55,889 38,068 96,000 93,957 55,889 38,068 (65,620) (63,577) (27,175) 36,402 Reserve for 164 (12,230) (12,230) - 12,230 Reserve for Cash Balance (27,057) (27,057) - 27,057 Transfers to Other Funds - (2,043) (2,043) - Total Other Financing Sources (Uses) (39,287) (41,330) (2,043) 39,287 Net Change in Fund Balances (104,907) (104,907) (29,218) 75,689 Fund Balances, October 1 104,907 104,907 143,028 38,121 Fund Balances, September 30 $ - $ - $ 113,810 $ 113,810 G-51 MONROE COUNTY, FLORIDA-BOARD OF COUNTY COMMISSIONERS SCHEDULE OF REVENUES, EXPENDITURES AND CHANGES IN FUND BALANCES - BUDGET AND ACTUAL MARATHON MUNICIPAL SERVICE TAXING UNIT SPECIAL REVENUE FUND FOR THE YEAR ENDED SEPTEMBER 30, 2016 REVENUES: Taxes Investment Income Total Revenues EXPENDITURES: Current: General Government: Tax Collector Physical Environment: Marathon Wastewater Total Expenditures Excess/Deficiency of Revenues Over (Under) Expenditures Other Financing Sources (Uses): Reserve for Contingencies Transfers from Constitutional Officers Total Other Financing Sources (Uses) Net Change in Fund Balances Fund Balances, October 1 Fund Balances, September 30 Variance with Final Budget Original Final Positive Budget Budget Actual (Negative) $ - $ - $ 2 $ 2 7 7 9 9 5 - 5 246 246 - 246 246 251 - 251 (246) (251) 9 260 (312) (307) - 307 (312) (307) - 307 (558) (558) 9 567 558 558 1,844 1,286 $ - $ - $ 1,853 $ 1,853 G-52 MONROE COUNTY, FLORIDA-BOARD OF COUNTY COMMISSIONERS SCHEDULE OF REVENUES, EXPENDITURES AND CHANGES IN FUND BALANCES - BUDGET AND ACTUAL BAY POINT MUNICIPAL SERVICE TAXING UNIT SPECIAL REVENUE FUND FOR THE YEAR ENDED SEPTEMBER 30, 2016 REVENUES: Investment Income Total Revenues EXPENDITURES: Current: Physical Environment: Bay Point Wastewater Total Expenditures Variance with Final Budget Original Final Positive Budget Budget Actual (Negative) $ - $ - $ 183 $ 183 183 183 23,000 23,000 733 22,267 23,000 23,000 733 22,267 Excess/Deficiency of Revenues Over (Under) Expenditures (23,000) (23,000) (550) 22,450 Other Financing Sources (Uses): Reserve for Contingencies (2,760) (2,760) - 2,760 Reserve for Cash Balance (2,862) (2,862) - 2,862 Total Other Financing Sources (Uses) (5,622) (5,622) - 5,622 Net Change in Fund Balances Fund Balances, October 1 Fund Balances, September 30 (28,622) (28,622) (550) 28,072 28,622 28,622 46,725 18,103 46,175 $ 46,175 G-53 MONROE COUNTY, FLORIDA-BOARD OF COUNTY COMMISSIONERS SCHEDULE OF REVENUES, EXPENDITURES AND CHANGES IN FUND BALANCES - BUDGET AND ACTUAL BIG COPPITT MUNICIPAL SERVICE TAXING UNIT SPECIAL REVENUE FUND FOR THE YEAR ENDED SEPTEMBER 30, 2016 REVENUES: Taxes Investment Income Total Revenues EXPENDITURES: Current: Physical Environment: Big Coppitt Wastewater Total Expenditures Excess/Deficiency of Revenues Over (Under) Expenditures Other Financing Sources (Uses): Reserve for Cash Balance Reserve for Contingencies Total Other Financing Sources (Uses) Net Change in Fund Balances Fund Balances, October 1 Fund Balances, September 30 Variance with Final Budget Original Final Positive Budget Budget Actual (Negative) $ - $ - $ 13 $ 13 5 5 18 18 1,260 1,260 838 422 1,260 1,260 838 422 (1,260) (1,260) (820) 440 (40) (40) - 40 (29) (29) - 29 (69) (69) - 69 (1,329) (1,329) (820) 509 1,329 1,329 1,425 96 $ - $ - $ 605 $ 605 G-54 MONROE COUNTY, FLORIDA-BOARD OF COUNTY COMMISSIONERS SCHEDULE OF REVENUES, EXPENDITURES AND CHANGES IN FUND BALANCES - BUDGET AND ACTUAL KEY LARGO MUNICIPAL SERVICE TAXING UNIT SPECIAL REVENUE FUND FOR THE YEAR ENDED SEPTEMBER 30, 2016 Variance with Final Budget Original Final Positive Budget Budget Actual (Negative) REVENUES: Taxes $ - $ - $ 2 $ 2 Investment Income - - 24 24 Total Revenues - - 26 26 EXPENDITURES: Current: Physical Environment: Key Largo Wastewater 2,400 2,400 - 2,400 Total Expenditures 2,400 2,400 - 2,400 Excess/Deficiency of Revenues Over (Under) Expenditures (2,400) (2,400) 26 2,426 Other Financing Sources (Uses): Reserve for Contingencies (770) (770) - 770 Total Other Financing Sources (Uses) (770) (770) - 770 Net Change in Fund Balances (3,170) (3,170) 26 3,196 Fund Balances, October 1 3,170 3,170 6,580 3,410 Fund Balances, September 30 $ - $ - $ 6,606 $ 6,606 G-55 MONROE COUNTY, FLORIDA-BOARD OF COUNTY COMMISSIONERS SCHEDULE OF REVENUES, EXPENDITURES AND CHANGES IN FUND BALANCES - BUDGET AND ACTUAL STOCK ISLAND WASTEWATER SPECIAL REVENUE FUND FOR THE YEAR ENDED SEPTEMBER 30, 2016 REVENUES: Licenses and Permits Investment Income Miscellaneous Total Revenues EXPENDITURES: Current: General Government: Tax Collector Fees Physical Environment: Stock Island Wastewater Total Expenditures Variance with Final Budget Original Final Positive Budget Budget Actual (Negative) $ 42,000 $ 42,000 $ 26,494 $ (15,506) 1,700 1,700 13,317 11,617 - - 3,575 3,575 43,700 43,700 43,386 (314) 1,500 1,500 1,000 500 350,900 350,900 19,039 331,861 352,400 352,400 20,039 332,361 Excess/Deficiency of Revenues Over (Under) Expenditures (308,700) (308,700) 23,347 332,047 Other Financing Sources (Uses): Reserve for Contingencies (50,356) (50,356) - 50,356 Reserve for Cash Balance (100,690) (100,690) - 100,690 Transfers from Constitutional Officers 425 425 513 88 Total Other Financing Sources (Uses) (150,621) (150,621) 513 151,134 Net Change in Fund Balances Fund Balances, October 1 Fund Balances, September 30 (459,321) (459,321) 23,860 483,181 459,321 459,321 652,176 192,855 $ 676,036 $ 676,036 G-56 MONROE COUNTY, FLORIDA-BOARD OF COUNTY COMMISSIONERS SCHEDULE OF REVENUES, EXPENDITURES AND CHANGES IN FUND BALANCES - BUDGET AND ACTUAL CUDJOE-SUGARLOAF MUNICIPAL SERVICE TAXING UNIT SPECIAL REVENUE FUND FOR THE YEAR ENDED SEPTEMBER 30, 2016 Variance with Final Budget Original Final Positive Budget Budget Actual (Negative) REVENUES: Investment Income $ - $ - $ 1 $ 1 Total Revenues - - 1 1 EXPENDITURES: Current: Physical Environment: Cudjoe-Sugarloaf Wastewater 3,662 3,662 - 3,662 Total Expenditures 3,662 3,662 - 3,662 Excess/Deficiency of Revenues Over (Under) Expenditures (3,662) (3,662) 1 3,663 Other Financing Sources (Uses): Transfers to Other Funds - - (6) (6) Total Other Financing Sources (Uses) - - (6) (6) Net Change in Fund Balances (3,662) (3,662) (5) 3,657 Fund Balances, October 1 3,662 3,662 5 (3,657) Fund Balances, September 30 $ - $ - $ - $ - G-57 MONROE COUNTY, FLORIDA-BOARD OF COUNTY COMMISSIONERS SCHEDULE OF REVENUES, EXPENDITURES AND CHANGES IN FUND BALANCES - BUDGET AND ACTUAL CONCH KEY MUNICIPAL SERVICE TAXING UNIT SPECIAL REVENUE FUND FOR THE YEAR ENDED SEPTEMBER 30, 2016 Variance with Final Budget Original Final Positive Budget Budget Actual (Negative) REVENUES: Investment Income $ - $ - $ 9 $ 9 Total Revenues - - 9 9 EXPENDITURES: Current: Physical Environment: Conch Key MSTU 400 400 - 400 Total Expenditures 400 400 - 400 Excess/Deficiency of Revenues Over (Under) Expenditures (400) (400) 9 409 Net Change in Fund Balances (400) (400) 9 409 Fund Balances, October 1 400 400 469 69 Fund Balances, September 30 $ - $ - $ 478 $ 478 G-58 MONROE COUNTY, FLORIDA-BOARD OF COUNTY COMMISSIONERS SCHEDULE OF REVENUES, EXPENDITURES AND CHANGES IN FUND BALANCES - BUDGET AND ACTUAL LONG KEY-LAYTON MUNICIPAL SERVICE TAXING UNIT SPECIAL REVENUE FUND FOR THE YEAR ENDED SEPTEMBER 30, 2016 REVENUES: Licenses and Permits Investment Income Total Revenues EXPENDITURES: Current: Physical Environment: Long Key -Layton Wastewater Total Expenditures Variance with Final Budget Original Final Positive Budget Budget Actual (Negative) $ - $ - $ 4,417 $ 4,417 1,008 1,008 5,425 5,425 7,900 7,900 3,741 4,159 7,900 7,900 3,741 4,159 Excess/Deficiency of Revenues Over (Under) Expenditures (7,900) (7,900) 1,684 9,584 Other Financing Sources (Uses): Reserve for Contingencies (1,000) (1,000) - 1,000 Reserve for Cash Balance (1,571) (1,571) - 1,571 Total Other Financing Sources (Uses) (2,571) (2,571) - 2,571 Net Change in Fund Balances Fund Balances, October 1 Fund Balances, September 30 (10,471) (10,471) 1,684 12,155 10,471 10,471 255,736 245,265 $ - $ - $ 257,420 $ 257,420 G-59 MONROE COUNTY, FLORIDA-BOARD OF COUNTY COMMISSIONERS SCHEDULE OF REVENUES, EXPENDITURES AND CHANGES IN FUND BALANCES - BUDGET AND ACTUAL DUCK KEY MUNICIPAL SERVICE TAXING UNIT SPECIAL REVENUE FUND FOR THE YEAR ENDED SEPTEMBER 30, 2016 REVENUES: Investment Income Total Revenues EXPENDITURES: Current: Physical Environment: Duck Key Wastewater Total Expenditures Excess/Deficiency of Revenues Over (Under) Expenditures Other Financing Sources (Uses): Variance with Final Budget Original Final Positive Budget Budget Actual (Negative) $ - $ - $ 348 $ 348 348 348 32,500 32,500 32,500 32,500 (32,500) (32,500) 321 32,179 321 32,179 27 32,527 Reserve for Contingencies (4,479) (4,479) - 4,479 Reserve for Cash Balance (9,074) (9,074) - 9,074 Total Other Financing Sources (Uses) (13,553) (13,553) - 13,553 Net Change in Fund Balances (46,053) (46,053) 27 46,080 Fund Balances, October 1 46,053 46,053 62,286 16,233 Fund Balances, September 30 $ - $ - $ 62,313 $ 62,313 G-60 MONROE COUNTY, FLORIDA-BOARD OF COUNTY COMMISSIONERS SCHEDULE OF REVENUES, EXPENDITURES AND CHANGES IN FUND BALANCES - BUDGET AND ACTUAL BUILDING SPECIAL REVENUE FUND FOR THE YEAR ENDED SEPTEMBER 30, 2016 Variance with Final Budget Original Final Positive Budget Budget Actual (Negative) REVENUES: Licenses and Permits $ 3,495,000 $ 3,495,000 $ 4,761,298 $ 1,266,298 Charges for Services 84,000 84,000 116,931 32,931 Investment Income 9,000 9,000 16,512 7,512 Miscellaneous 30,000 30,000 39,190 9,190 Total Revenues 3,618,000 3,618,000 4,933,931 1,315,931 EXPENDITURES: Current: Public Safety Building Department 3,990,270 3,990,270 3,484,996 505,274 Building Refunds 30,000 101,000 78,285 22,715 Total Expenditures 4,020,270 4,091,270 3,563,281 527,989 Excess/Deficiency of Revenues Over (Under) Expenditures (402,270) (473,270) 1,370,650 1,843,920 Other Financing Sources (Uses): Reserve for Contingencies (99,240) (28,240) - 28,240 Reserve for Cash Balance (175,000) (175,000) - 175,000 Transfer From Other Funds - - 571,364 571,364 Transfer to Other Funds (509,033) (509,033) (509,033) - Total Other Financing Sources (Uses) (783,273) (712,273) 62,331 774,604 Net Change in Fund Balances (1,185,543) (1,185,543) 1,432,981 2,618,524 Fund Balances, October 1 1,185,543 1,185,543 2,596,187 1,410,644 Fund Balances, September 30 $ - $ - $ 4,029,168 $ 4,029,168 G-61 MONROE COUNTY, FLORIDA-BOARD OF COUNTY COMMISSIONERS STATEMENT OF REVENUES, EXPENDITURES, AND CHANGES IN FUND BALANCES - BUDGET AND ACTUAL ROAD AND BRIDGE SPECIAL REVENUE FUND FOR THE YEAR ENDED SEPTEMBER 30, 2016 Revenues: Taxes Intergovernmental Charges for Services Investment Income Miscellaneous Total Revenues Expenditures: Current: Transportation: Road Department County Engineer Road and Bridge Street Lighting Local Option Gas Tax Projects 80% Gas Tax Paving Backlog Sugarloaf Blvd Bridge Sustainability Roads Garrison Bight Bridge Total Transportation Total Expenditures Excess/Deficiency of Revenues Over (Under) Expenditures Other Financing Sources (Uses): Reserve for Contingencies Reserve for Cash Balance Transfers from Other Funds Transfers to Other Funds Total Other Financing Sources (Uses) Net Change in Fund Balances Fund Balances, October 1 Fund Balances, September 30 Variance with Final Budget Original Final Positive Budget Budget Actual (Negative) $ 2,335,000 $ 2,335,000 $ 2,534,862 $ 199,862 3,500,000 3,500,000 3,645,484 145,484 62,500 62,500 89,017 26,517 35,000 35,000 54,566 19,566 22,700 22,700 31,055 8,355 5,955,200 5,955,200 6,354,984 399,784 4,180,136 4,180,134 3,039,672 1,140,462 415,790 415,790 362,096 53,694 244,132 244,132 227,928 16,204 357,583 357,583 304,753 52,830 550,000 588,000 550,922 37,078 3,216,500 3,216,500 401,349 2,815,151 199,859 407,123 288,567 118,556 - 35,000 - 35,000 - 7,817 165 7,652 9,164,000 9,452,079 5,175,452 4,276,627 9,164,000 9,452,079 5,175,452 4,276,627 (3,208,800) (3,496,879) 1,179,532 4,676,411 (279,579) (26,498) - 26,498 (1,127,272) (1,127,272) - 1,127,272 73,983 73,983 73,983 - (3,520,047) (3,485,049) (709,983) 2,775,066 (4,852,915) (4,564,836) (636,000) 3,928,836 (8,061,715) (8,061,715) 543,532 8,605,247 8,061,715 8,061,715 12,438,425 4,376,710 - $ - $ 12,981,957 $ 12,981,957 G-62 MONROE COUNTY, FLORIDA-BOARD OF COUNTY COMMISSIONERS SCHEDULE OF REVENUES, EXPENDITURES, AND CHANGES IN FUND BALANCES - BUDGET AND ACTUAL CLERK'S REVENUE NOTE CAPITAL PROJECTS FUND FOR THE YEAR ENDED SEPTEMBER 30, 2016 REVENUES: Investment Income Total Revenues EXPENDITURES: Capital Projects Variance with Final Budget Original Final Positive Budget Budget Actual (Negative) $ 2,122 $ 2,122 $ 2,261 $ 139 2,122 2,122 2,261 139 2,122 2,122 - 2,122 Total Expenditures 2,122 2,122 - 2,122 Excess/Deficiency of Revenues Over (Under) Expenditures - - 2,261 2,261 Net Change in Fund Balances Fund Balances, October 1 Fund Balances, September 30 - - 2,261 2,261 - - 102,396 102,396 $ 104,657 $ 104,657 G-63 MONROE COUNTY, FLORIDA-BOARD OF COUNTY COMMISSIONERS SCHEDULE OF REVENUES, EXPENDITURES, AND CHANGES IN FUND BALANCES - BUDGET AND ACTUAL INFRASTRUCTURE REVENUE BONDS SERIES 2007 CAPITAL PROJECTS FUN[ FOR THE YEAR ENDED SEPTEMBER 30, 2016 Variance with Final Budget Original Final Positive Budget Budget Actual (Negative) REVENUES: Investment Income $ 608,505 $ 608,505 $ 2,567 $ (605,938) Total Revenues 608,505 608,505 2,567 (605,938) EXPENDITURES: Capital Projects 590,857 590,857 19,071 571,786 Total Expenditures 590,857 590,857 19,071 571,786 Excess/Deficiency of Revenues Over (Under) Expenditures 17,648 17,648 (16,504) (34,152) Other Financing Sources (Uses): Reserve for Contingencies (17,648) (17,648) - 17,648 Total Other Financing Sources (Uses) (17,648) (17,648) - 17,648 Net Change in Fund Balances Fund Balances, October 1 Fund Balances, September 30 $ - - (16,504) (16,504) - - 1,227,708 1,227,708 - $ - $ 1,211,204 $ 1,211,204 G-64 MONROE COUNTY, FLORIDA-BOARD OF COUNTY COMMISSIONERS SCHEDULE OF REVENUES, EXPENDITURES, AND CHANGES IN FUND BALANCES - BUDGET AND ACTUAL DUCK KEY WASTEWATER PROJECT CAPITAL PROJECTS FUN[ FOR THE YEAR ENDED SEPTEMBER 30, 2016 REVENUES: Licenses and Permits Investment Income Miscellaneous Total Revenues EXPENDITURES: Capital Projects Total Expenditures Excess/Deficiency of Revenues Over (Under) Expenditures Other Financing Sources (Uses): Reserve for Contingencies Reserve for Cash Balance Transfer From Other Funds Transfer to Other Funds Total Other Financing Sources (Uses) Net Change in Fund Balances Fund Balances, October 1 Fund Balances, September 30 Variance with Final Budget Original Final Positive Budget Budget Actual (Negative) $ 31,500 $ 31,500 $ 92,740 $ 61,240 3,500 3,500 27,178 23,678 - - 7,197 7,197 35,000 35,000 127,115 92,115 502,335 502,335 126,922 375,413 502,335 502,335 126,922 375,413 (467,335) (467,335) 193 467,528 (63,576) (63,576) - 63,576 (105,698) (105,698) - 105,698 - - 574 574 - (2,500,000) (2,500,000) - (169,274) (2,669,274) (2,499,426) 169,848 (636,609) (3,136,609) (2,499,233) 637,376 636,609 3,136,609 2,597,757 (538,852) - $ 98,524 $ 98,524 G-65 MONROE COUNTY, FLORIDA-BOARD OF COUNTY COMMISSIONERS SCHEDULE OF REVENUES, EXPENDITURES, AND CHANGES IN FUND BALANCES - BUDGET AND ACTUAL INFRASTRUCTURE REVENUE BONDS SERIES 2014 CAPITAL PROJECTS FUND FOR THE YEAR ENDED SEPTEMBER 30, 2016 Variance with Final Budget Original Final Positive Budget Budget Actual (Negative) REVENUES: Investment Income $ - $ - $ 34,986 $ 34,986 Total Revenues - - 34,986 34,986 EXPENDITURES: General Government 8,000,000 8,000,000 43,979 7,956,021 Public Safety 4,812,517 4,812,517 25,641 4,786,876 Capital Projects 5,343,750 5,343,750 2,009,024 3,334,726 Total Expenditures 18,156,267 18,156,267 2,078,644 16,077,623 Excess/Deficiency of Revenues Over (Under) Expenditures (18,156,267) (18,156,267) (2,043,658) 16,112,609 Other Financing Sources (Uses): Reserve for Contingencies (1,203,941) (1,203,941) - 1,203,941 Transfer From Other Funds 11,000,000 42,000,000 - (42,000,000) Transfer to Other Funds - (31,000,000) - 31,000,000 Total Other Financing Sources (Uses) 9,796,059 9,796,059 - (9,796,059) Net Change in Fund Balances Fund Balances, October 1 Fund Balances, September 30 (8,360,208) (8,360,208) (2,043,658) 6,316,550 8,360,208 8,360,208 9,285,560 925,352 - $ 7,241,902 $ 7,241,902 G -66 MONROE COUNTY, FLORIDA-BOARD OF COUNTY COMMISSIONERS SCHEDULE OF REVENUES, EXPENDITURES, AND CHANGES IN FUND BALANCES - BUDGET AND ACTUAL LONG KEY WASTEWATER PROJECT CAPITAL PROJECTS FUNC FOR THE YEAR ENDED SEPTEMBER 30, 2016 REVENUES: Investment Income Total Revenues EXPENDITURES: Capital Projects Total Expenditures Excess/Deficiency of Revenues Over (Under) Expenditures Other Financing Sources (Uses): Transfer From Other Funds Total Other Financing Sources (Uses) Net Change in Fund Balances Fund Balances, October 1 Fund Balances, September 30 Variance with Final Budget Original Final Positive Budget Budget Actual (Negative) $ 1,400,000 $ 1,400,000 $ 394 $ (1,399,606) 1,400,000 1,400,000 394 (1,399,606) 1,400,000 1,400,000 138,357 1,261,643 1,400,000 1,400,000 138,357 1,261,643 - (137,963) (137,963) - - 1,600,000 1,600,000 - - 1,600,000 1,600,000 - - 1,462,037 1,462,037 $ 1,462,037 $ 1,462,037 G-67 MONROE COUNTY, FLORIDA-BOARD OF COUNTY COMMISSIONERS SCHEDULE OF REVENUES, EXPENDITURES, AND CHANGES IN FUND BALANCES - BUDGET AND ACTUAL LAND ACQUISITION FUND CAPITAL PROJECTS FUNC FOR THE YEAR ENDED SEPTEMBER 30, 2016 Original Final Budget Budget Variance with Final Budget Positive Actual (Negative) REVENUES: Investment Income - Total Revenues - - - - EXPENDITURES: Capital Projects - - - Total Expenditures - - - Excess/Deficiency of Revenues Over (Under) Expenditures - - - Other Financing Sources (Uses): Transfer From Other Funds 6,000,000 6,000,000 6,000,000 _ Total Other Financing Sources (Uses) 6,000,000 6,000,000 6,000,000 Net Change in Fund Balances 6,000,000 6,000,000 6,000,000 Fund Balances, October 1 - - - Fund Balances, September 30 $ 6,000,000 $ 6,000,000 $ 6,000,000 $ .: MONROE COUNTY, FLORIDA-BOARD OF COUNTY COMMISSIONERS COMBINING STATEMENT OF NET POSITION INTERNAL SERVICE FUNDS SEPTEMBER 30, 2016 ASSETS Current Assets: Cash and Cash Equivalents Investments Accounts Receivable, Net Due from Other Governmental Units Due from Constitutional Officers Interest Receivable Total Current Assets Noncurrent Assets: Land and Other Nondepreciable Assets Capital Assets, Net of Accum. Depreciation Total Noncurrent Assets Total Assets DEFERRED OUTFLOWS OF RESOURCES Related to Pensions LIABILITIES Current Liabilities: Accounts Payable Accrued Wages and Benefits Payable Claims and Judgments Payable Due to Other Funds Due to Other Governmental Units Due to Constitutional Officers Accrued Comp. Absences Payable Total Current Liabilities Noncurrent Liabilities: Accrued Comp. Absences Payable OPEB Liability Net Pension Liability Total Noncurrent Liabilities Total Liabilities DEFERRED INFLOWS OF RESOURCES Related to Pensions NET POSITION Investment in Capital Assets Unrestricted Total Net Position Workers' Group Risk Compensation Insurance Management Fund Fund Fund $ 895,330 $ 2,806,731 $ 558,272 3,107,949 7,972,363 3,420,415 - 15,122 - - 77,616 - - 279,461 - 9,300 25,483 9,943 4,012,579 11,176,776 3,988,630 868 - 26,036 868 - 26, 036 4,013,447 11,176,776 4,014,666 51,145 63,345 45,639 2,043 1,641,920 15,705 - 8,575 - 425,109 1,028,472 246,780 - 246 - 6,399 - - 2,147 5,025 3,656 435,698 2,684,238 266,141 8,587 20,102 14,628 139,387 93,274 235,806 155,135 174,965 137,038 303,109 288,341 387,472 738,807 2,972,579 653,613 2,845 3,494 2,554 868 - 26,036 3,322,072 8,264,048 3,378,102 $ 3,322,940 $ 8,264,048 $ 3,404,138 H-1 Fleet Management Fund Total $ 379,774 $ 4,640,107 2,825,322 17, 326, 049 40 15,162 17,119 94,735 69 279,530 5,042 49,768 3,227,366 22,405,351 54,000 54,000 811,181 838,085 865,181 892,085 4,092,547 23,297,436 256,765 416,894 33,044 1,692,712 - 8,575 - 1,700,361 417,183 417,183 40 286 - 6,399 16,112 26,940 466,379 3,852,456 64,452 107,769 497,812 966,279 722,552 1,189, 690 1,284,816 2,263,738 1,751,195 6,116,194 14,196 23,089 865,181 892,085 1,718,740 16, 682, 962 $ 2,583,921 $ 17,575,047 H-2 MONROE COUNTY, FLORIDA-BOARD OF COUNTY COMMISSIONERS COMBINING STATEMENT OF REVENUES, EXPENSES, AND CHANGES IN NET POSITION INTERNAL SERVICE FUNDS FOR THE YEAR ENDED SEPTEMBER 30, 2016 Operating Revenues: Charges for Services Miscellaneous Total Operating Revenues Operating Expenses: Personnel Services Operations Depreciation and Amortization Asserted and Paid Claims Total Operating Expenses Operating Income (Loss) Non -Operating Revenues(Expenses): Investment Income Insurance Recoveries (Loss) on Disposition of Assets Total Non -Operating Revenues (Expenses) Income (Loss) Before Transfers Transfers to Other Funds Change in Net Position Net Position -October 1 Workers' Group Risk Compensation Insurance Management Fund Fund Fund $ 1,867,238 $ 16,054,053 $ 1,452,269 6,814 175,040 20,245 1,874,052 16,229,093 1,472,514 221,482 285,422 207,753 497,028 1,341,822 1,814,598 - - 4,664 1,991,437 16,899,485 226,680 2,709,947 18,526,729 2,253,695 (835,895) (2,297,636) (781,181) 14,812 35,086 17,365 944,607 157,355 37,616 959,419 192,441 54,981 123,524 (2,105,195) (726,200) (61,030) (117,760) (32,970) 62,494 (2,222,955) (759,170) 3,260,446 10,487,003 4,163,308 Net Position -September 30 $ 3,322,940 $ 8,264,048 $ 3,404,138 H-3 Fleet Management Fund Total $ 2,687,461 $ 22,061,021 1,563 203,662 2,689,024 22,264,683 1,167,167 1,881,824 941,830 4,595,278 60,681 65,345 - 19,117,602 2,169,678 25,660,049 519,346 (3,395,366) 11,344 78,607 - 1,139,578 (57,236) (57,236) (45,892) 1,160,949 473,454 (2,234,417) (367,760) (579,520) 105,694 (2,813,937) 2,478,227 20,388,984 $ 2,583,921 $ 17,575,047 :f! MONROE COUNTY, FLORIDA-BOARD OF COUNTY COMMISSIONERS COMBINING STATEMENT OF CASH FLOWS INTERNAL SERVICE FUNDS FOR THE YEAR ENDED SEPTEMBER 30, 2016 Operating Activities: Cash Received for Services Cash Received from Other Funds for Goods and Svcs Cash Received from Insurance Recoveries Cash Payments to Suppliers for Goods and Svcs Cash Payments for Employee Services Cash Payments to Other Funds Cash Payments for Claims Other Operating Revenue Net Cash Provided by (Used in) Operating Activities Noncapital Financing Activities: Transfers to Other Funds Net Cash Provided by (Used in) Noncapital Financing Activities Capital and Related Financing Activities: Acquisition of Capital Assets Net Cash Provided by (Used in) Capital and Related Financing Activities Investing Activities: Investment Income Proceeds from Sales and Maturities of Investments Purchase of Investment Securities Net Cash Provided by (Used in) Investing Activities Net Increase(Decrease) in Cash and Cash Equivalents Cash and Cash Equivalents: October 1 Workers' Group Risk Compensation Insurance Management Fund Fund Fund $ 1,867,238 $ 16,050,376 $ 1,452,640 12,378 - - 944,607 157,355 37,616 (506,893) (1,533,812) (1,817,958) (228,420) (287,049) (215,536) - (28,589) - (2,484,282) (16,798,211) (169,245) 4,316 168,634 17,497 (391,056) (2,271,296) (694,986) (61,030) (117,760) (32,970) (61,030) (117,760) (32,970) - (9,568) - (9,568) 14,812 35,086 17,365 988,354 5,839,775 2,650,821 (2,122,186) (6,417,149) (2,795,995) (1,119,020) (542,288) (127,809) (1,571,106) (2,931,344) (865,333) 2,466,436 5,738,075 1,423,605 September 30 $ 895,330 $ 2,806,731 $ 558,272 H-5 Fleet Management Fund Total $ 2,687,434 $ 22,057,688 425,937 438,315 - 1,139,578 (944,831) (4,803,494) (1,157,485) (1,888,490) - (28,589) - (19,451,738) - 190,447 1,011,055 (2,346,283) (367,760) (579,520) (367,760) (579,520) (9,226) (18,794) (9,226) (18,794) 11,344 78,607 1,302,901 10,781,851 (2,048,334) (13,383,664) (734,089) (2,523,206) (100,020) (5,467,803) 479,794 10,107,910 $ 379,774 $ 4,640,107 (Continued) W. MONROE COUNTY, FLORIDA COMBINING STATEMENT OF CASH FLOWS (CONTINUED) INTERNAL SERVICE FUNDS FOR THE YEAR ENDED SEPTEMBER 30, 2016 Reconciliation of Operating Income (Loss) to Net Cash Provided by (Used in) Operating Activities: Operating Income (Loss) Adjustments to Reconcile Operating Income (Loss) to Net Cash Provided by (Used in) Operating activities: Depreciation and Amortization Nonoperating Income -Insurance Recoveries Change in Assets and Liabilities: (Increase) Decrease in Accounts Receivable (Increase) Decrease in Due from Other Gov't Units (Increase) Decrease in Due fm Constitutional Ofcrs (Increase) Decrease in Interest Receivable Increase (Decrease) in Accounts Payable Increase (Decrease) in Accrued Wages/Benefits Increase (Decrease) in Claims/Judgments Payable Increase (Decrease) in Due to Other Funds Increase (Decrease) in Due to Other Gov't Units Increase (Decrease) in Due to Constitutional Ofcrs Increase (Decrease) in Comp. Absences Payable Increase (Decrease) in OPEB Liability Increase (Decrease) in Pension Liability Increase (Decrease) in Deferred Outflows Increase (Decrease) in Deferred Inflows Total Adjustments Net Cash Provided by (Used in) Operating Activities Noncash Investing, Capital, and Financing Activities: (Loss) on Disposition of Assets Change in Fair Value of Investments Cash Reconciliation: Unrestricted Workers' Group Risk Compensation Insurance Management Fund Fund Fund $ (835,895) $ (2,297,636) $ (781,181) - - 4,664 944,607 157,355 37,616 - (3,677) 371 - (5,409) - 5,979 (23,160) - (2,498) (6,406) (2,748) (9,865) (191,990) (3,360) (12,760) (10,853) (12,097) (492,845) 101,274 57,435 - (30) - - 10 - 6,399 - - (7,030) (2,729) (11,409) 6,387 4,274 10,806 53,990 66,641 48,282 (35,241) (46,349) (31,130) (12,284) (12,611) (12,235) 444,839 26,340 86,195 $ (391,056) $ (2,271,296) $ (694,986) $ 12,922 $ 39,075 $ 17,025 $ 895,330 $ 2,806,731 $ 558,272 H-7 Fleet Management Fund Total $ 519,346 $ (3,395,366) 60,681 65,345 - 1,139,578 (27) (3,333) 8,998 3,589 (69) (17,250) (2,271) (13,923) (2,293) (207,508) (54,844) (90,554) - (334,136) 417,008 416,978 - 10 - 6,399 9,582 (11,586) 22,812 44,279 270,348 439,261 (186,171) (298,891) (52,045) (89,175) 491,709 1,049,083 $ 1,011,055 $ (2,346,283) $ (57,236) $ (57,236) $ 12,472 $ 81,494 $ 379,774 $ 4,640,107 ;�3 MONROE COUNTY, FLORIDA-BOARD OF COUNTY COMMISSIONERS COMPONENT UNIT COMPREHENSIVE PLAN LAND AUTHORITY STATEMENT OF NET POSITION SEPTEMBER 30, 2016 ASSETS Cash and cash equivalents $ 8,972,285 Deposits held in trust 41,002 Due from BOCC 590,268 Due from State of Florida 30,491 Mortgages receivable 9,151,579 Equipment, net of accumulated depreciation 1,486 Capital assets -land 27,694,394 Intangible assets 12,505,906 Total assets 58,987,411 Deferred Outflows of Resources 73,576 LIABILITIES, DEFERRED INFLOWS OF RESOURCES AND NET POSITION Current liabilities: Accounts payable 316,045 Accrued wages 13,957 Compensated absences 13,221 Total current liabilities 343,223 Noncurrent liabilities: Compensated absences 48,237 Net Pension Liability 197,800 Total noncurrent liabilities 246,037 Total liabilities 589,260 Deferred Inflows of Resources 6,604 Net position: Net investment in capital assets 40,201,786 Restricted 1,935,202 Unrestricted 16,328,135 Total net position $ 58,465,123 1-1 MONROE COUNTY, FLORIDA-BOARD OF COUNTY COMMISSIONERS COMPONENT UNIT COMPREHENSIVE PLAN LAND AUTHORITY STATEMENT OF ACTIVITIES YEAR ENDED SEPTEMBER 30, 2016 General revenues Intergovernmental $ 5,251,004 Investment Income 82,572 Land contributions 51 Total general revenues 5,333,627 Program expenses Land contribution conveyances 45,681 General government 360,700 Total program expenses 406,381 Increase in net position 4,927,246 Net position, beginning of year, previously reported 53,537,877 Net position, end of year $ 58,465,123 1-2 Cherry rt Report of Independent Auditor on Internal Control Over Financial Reporting and on Compliance and Other Matters Based on an Audit of Financial Statements Performed in Accordance with Government Auditing Standards To the Clerk Ex Officio, Mayor and Board of County Commissioners of Monroe County, Florida: We have audited, in accordance with auditing standards generally accepted in the United States of America and the standards applicable to the financial audits contained in Government Auditing Standards issued by the Comptroller General of the United States, the financial statements of each major fund, the discretely presented component unit, and the aggregate remaining fund information of the Monroe County, Florida Board of County Commissioners (the "Board") as of and for the year ended September 30, 2016, and the related notes to the financial statements, which collectively comprise the Board's basic financial statements, and have issued our report thereon dated March 31, 2017 for the purpose of compliance with Section 218.39(2), Florida Statutes, and Chapter 10.550, Rules of the Auditor General -Local Governmental Entity Audits. Internal Control Over Financial Reporting In planning and performing our audit of the financial statements, we considered the Board's internal control over financial reporting (internal control) to determine the audit procedures that are appropriate in the circumstances for the purpose of expressing our opinions on the financial statements, but not for the purpose of expressing an opinion on the effectiveness of the Board's internal control. Accordingly, we do not express an opinion on the effectiveness of the Board's internal control. A deficiency in internal control exists when the design or operation of a control does not allow management or employees, in the normal course of performing their assigned functions, to prevent or detect and correct misstatements on a timely basis. A material weakness is a deficiency, or combination of deficiencies, in internal control, such that there is a reasonable possibility that a material misstatement of the Board's financial statements will not be prevented, or detected and corrected on a timely basis. A significant deficiency is a deficiency, or a combination of deficiencies, in internal control that is less severe than a material weakness, yet important enough to merit attention by those charged with governance. Our consideration of internal control was for the limited purpose described in the first paragraph of this section and was not designed to identify all deficiencies in internal control that might be material weaknesses or significant deficiencies and therefore, material weaknesses or significant deficiencies may exist that were not identified. Given these limitations during our audit we did not identify any deficiencies in internal control that we consider to be material weaknesses. However, material weaknesses may exist that have not been identified. We did identify a deficiency described in Appendix A - Financial Statement Finding as item 2016-001 that we consider to be a significant deficiency. Compliance and Other Matters As part of obtaining reasonable assurance about whether the Board's financial statements are free from material misstatement, we performed tests of its compliance with certain provisions of laws, regulations, contracts and grant agreements, noncompliance with which could have a direct and material effect on the determination of financial statement amounts. However, providing an opinion on compliance with those provisions was not an objective of our audit, and accordingly, we do not express such an opinion. The results of our tests disclosed no instances of noncompliance or other matters that are required to be reported under Government Auditing Standards. J-1 Response to the Finding The Board's response to the finding identified in our audit is described in Appendix A — Financial Statement Finding. The Board's response was not subjected to the auditing procedures applied in the audit of the financial statements and accordingly, we express no opinion on it. Purpose of this Report The purpose of this report is solely to describe the scope of our testing of internal control and compliance and the results of that testing, and not to provide an opinion on the effectiveness of the Board's internal control or on compliance. This report is an integral part of an audit performed in accordance with Government Auditing Standards in considering the Board's internal control and compliance. Accordingly, this communication is not suitable for any other purpose. Orlando, Florida March 31, 2017 J-2 MONROE COUNTY, FLORIDA BOARD OF COUNTY COMMISSIONERS APPENDIX A - FINANCIAL STATEMENT FINDING Finding 2016-001 Significant Deficiency Late postings and payments Criteria: An effective system of internal control includes methods for insuring that transactions be recorded in a timely manner in order for the books and records to be accurate at any point in time. Condition and Context: Although we noted improvement over the prior year, our testing of cash receipts, journal entries and procurement cards revealed that at times cash receipts and journal entries were posted late and at times the procurement card invoices were paid after the due date. These late postings and late payments were due to workload issues in Finance and the fact that the documentation to support the transaction was not provided to Finance in a timely manner. Effect: Late posting of cash receipts and journal entries results in the books and records of the County to be less than accurate until the underlying transactions are posted and late payment of procurement card statements may result in the card being rendered unusable to the holder until payment is made. Cause: Workload issues in Finance for part of the year and lack of coordination between departments. Recommendation: We recommend that the County establish procedures to ensure that Finance be provided all documentation within a reasonable time frame to allow for the timely posting of cash receipts, journal entries and payment of procurement card invoices. Additionally we recommend cross -training of Finance staff to avoid work backlog due to employee absences. Management Response: We agree with this recommendation and will work with the Board of County Commissioners to establish procedures to ensure documentation is provided to the Finance Department on a timely basis. In addition, the Finance Department will ensure staff is sufficiently cross -trained to minimize work back -log and delays in posting transactions to the accounting records. J-3 .,;:. Cherry Bekae Independent Auditor's Management Letter To the Clerk Ex Officio, Mayor and Board of County Commissioners of Monroe County, Florida: Report on the Financial Statements We have audited the financial statements of each major fund, the discretely presented component unit, and the aggregate remaining fund information of the Monroe County, Florida Board of County Commissioners (the "Board") as of and for the year ended September 30, 2016, and have issued our report thereon dated March 31, 2017. Auditor's Responsibility We conducted our audit in accordance with auditing standards generally accepted in the United States of America; the standards applicable to financial audits contained in Government Auditing Standards, issued by the Comptroller General of the United States; and Chapter 10.550, Rules of the Auditor General. Other Reports We have issued our Report of Independent Auditor on Internal Control over Financial Reporting and on Compliance and Other Matters Based on an Audit of the Financial Statements Performed in Accordance with Government Auditing Standards; and our Report of Independent Accountant on Compliance with Local Government Investment Policies regarding compliance requirements in accordance with Chapter 10.550, Rules of the Auditor General. Disclosures in those reports, which are dated March 31, 2017, should be considered in conjunction with this management letter. Prior Audit Findings Section 10.554(1)(i)l., Rules of the Auditor General, requires that we determine whether or not corrective actions have been taken to address findings and recommendations made in the preceding annual financial audit report. There were no audit recommendations made in the preceding audit report. Official Title and Legal Authority Section 10.554(1)(i)4., Rules of the Auditor General, requires that the name or official title and legal authority for the primary government and each component unit of the reporting entity be disclosed in this management letter, unless disclosed in the notes to the financial statements. Such disclosure is included in notes to the financial statements. Other Matters Section 10.554(1)(i)2., Rules of the Auditor General, requires that we address in the management letter any recommendations to improve financial management. See Appendix A for our recommendation. We did not audit the Board's response to this matter, which is provided in Appendix A, and, accordingly, we express no opinion on it. Section 10.554(1)(i)3., Rules of the Auditor General, requires that we address noncompliance with provisions of contracts or grant agreements, or abuse, that have occurred, or are likely to have occurred, that have an effect in the financial statements that is less than material but which warrants the attention of those charged with governance. In connection with our audit, we did not have any such findings. J-4 Purpose of this Letter The purpose of this management letter is to communicate certain matters prescribed by Chapter 10.550, Rules of the Auditor General. Accordingly, this management letter is not suitable for any other purpose. Orlando, Florida March 31, 2017 J-5 MONROE COUNTY, FLORIDA BOARD OF COUNTY COMMISSIONERS MANAGEMENT LETTER COMMENTS (CURRENT YEAR) - APPENDIX A 2016-001 Continued Training Observation: The County has made considerable progress in training the Finance staff in the current fiscal year. However we noted some delay in processes due to employee absences and heavy workload. Recommendation: We recommend that continued training be provided in order to strengthen the skills of the Finance staff as well as cross training to assure work flow continues in an employee's absence. Management Response: We agree with this recommendation and will continue to provide training to Finance Department staff to strengthen skills and cross -training. J-6 611111 .. Cherry B rtt Report of Independent Accountant on Compliance with Local Government Investment Policies To the Clerk Ex Officio, Mayor and Board of County Commissioners of Monroe County, Florida: Report on Compliance We have examined the Monroe County, Florida Board of County Commissioners' (the "Board") compliance with the local government investment policy requirements of Section 218.415, Florida Statutes, for the year ended September 30, 2016. Management is responsible for the Board's compliance with those requirements. Our responsibility is to express an opinion on the Board's compliance based on our examination. Scope Our examination was conducted in accordance with attestation standards established by the American Institute of Certified Public Accountants and, accordingly, included examining, on a test basis, evidence about the Board's compliance with those requirements and performing such other procedures as we considered necessary in the circumstances. We believe that our examination provides a reasonable basis for our opinion. Our examination does not provide a legal determination on the Board's compliance with specified requirements. Opinion In our opinion, the Board complied, in all material respects, with the aforementioned requirements for the year ended September 30, 2016. Orlando, Florida March 31, 2017 J-7